02.24.22
Universal Display reported financial results for the fourth quarter and full year ended Dec. 31, 2021.
“2021 was a year of growth, R&D milestone achievements, new customer agreements, continued market recognition, and diversification and expansion of our global manufacturing footprint with PPG,” said Sidney D. Rosenblatt, EVP and CFO of Universal Display Corporation. “During the year, our revenue grew to a record high of $554 million, we extended our long-term agreements with LG Display, Visionox Technology and Tianma Micro-electronics, and jointly announced with PPG the establishment of a new manufacturing site in Shannon, Ireland, for the production of our highly efficient, high-performing UniversalPHOLED materials.
“In addition, we were recognized by the Financial Times as one of The Americas’ Fastest-Growing Companies, by Newsweek as one of America’s Most Responsible Companies for the second year in a row, awarded a Silver rating for corporate social responsibility from EcoVadis, and recognized once again by The Forum of Executive Women as a Champion of Board Diversity,” Rosenblatt added.
“Leveraging over 25 years of ‘vision, innovation and reality’, Universal Display’s brilliant team of scientists and engineers continue to discover, develop, and deliver next-generation, state-of-the-art OLED materials and technologies,” Rosenblatt continued. “With respect to blue, given recent advancements, we believe that we are on track to meet preliminary target specifications with our phosphorescent blue by year-end 2022, which should enable the introduction of our all-phosphorescent RGB (red, green and blue) stack into the commercial market in 2024. We believe that the commercial introduction of our full-color emissive stack has the potential to unlock a vast array of opportunities for higher energy-efficiency and higher performance across a broad range of OLED applications.”
“2021 was a year of growth, R&D milestone achievements, new customer agreements, continued market recognition, and diversification and expansion of our global manufacturing footprint with PPG,” said Sidney D. Rosenblatt, EVP and CFO of Universal Display Corporation. “During the year, our revenue grew to a record high of $554 million, we extended our long-term agreements with LG Display, Visionox Technology and Tianma Micro-electronics, and jointly announced with PPG the establishment of a new manufacturing site in Shannon, Ireland, for the production of our highly efficient, high-performing UniversalPHOLED materials.
“In addition, we were recognized by the Financial Times as one of The Americas’ Fastest-Growing Companies, by Newsweek as one of America’s Most Responsible Companies for the second year in a row, awarded a Silver rating for corporate social responsibility from EcoVadis, and recognized once again by The Forum of Executive Women as a Champion of Board Diversity,” Rosenblatt added.
“Leveraging over 25 years of ‘vision, innovation and reality’, Universal Display’s brilliant team of scientists and engineers continue to discover, develop, and deliver next-generation, state-of-the-art OLED materials and technologies,” Rosenblatt continued. “With respect to blue, given recent advancements, we believe that we are on track to meet preliminary target specifications with our phosphorescent blue by year-end 2022, which should enable the introduction of our all-phosphorescent RGB (red, green and blue) stack into the commercial market in 2024. We believe that the commercial introduction of our full-color emissive stack has the potential to unlock a vast array of opportunities for higher energy-efficiency and higher performance across a broad range of OLED applications.”