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UDC Showed Strong Q320 Revenue Gains in Red and Green but Royalties Lagged
UDC in their Q320 earnings report, showed red material up 33.3% Y/Y, yellow/green up 31.6% Y/Y and royalties up 3.7% Y/Y. UDC was not questioned on why the royalty growth was so low compared to the material revenue. The poor Q230 made the sequential growth in all three categories ~100% or more. Q320 was the second higher quarter in terms of material revenue, 2nd only to Q120, which was augmented by pre-ordering in preparation for the effects of the pandemic. Q420 may even be better as iPhone 12 shipments hit full stride and LGD ships an expected 2m TV panels.
Table 1: UDC Q320 Revenue by Material
UDC in their Q320 earnings report, showed red material up 33.3% Y/Y, yellow/green up 31.6% Y/Y and royalties up 3.7% Y/Y. UDC was not questioned on why the royalty growth was so low compared to the material revenue. The poor Q230 made the sequential growth in all three categories ~100% or more. Q320 was the second higher quarter in terms of material revenue, 2nd only to Q120, which was augmented by pre-ordering in preparation for the effects of the pandemic. Q420 may even be better as iPhone 12 shipments hit full stride and LGD ships an expected 2m TV panels.
Table 1: UDC Q320 Revenue by Material
Source: UDC
Figure 1: UDC Material Revenue by Color and Royalty Amount
Source: UDC Reports