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UDC Q420 Revenue Hits Record High, Up 39.1% Y/Y
UDC reported another strong quarter, which reflected the growth in OLED shipments for smartphones and TV panels. Revenue was $141.5m up 39.1% Y/Y and 20.8% sequentially. As shown in the table below, Q420 was UDC’s highest revenue quarter ever. The Q&A portion of the earnings call provided little insight to their most significant developments; a high efficiency blue and OVJP, their maskless dry printing process, other than they continue to invest in both projects. The outlook for the rest of the year was positive a function of 1) LG’s full operation of the Guangzhou fab, comparable to Q420 and increased capacity for smartphones, which they put at 50%. They did not mention the improved yields in China, which should contribute to continued growth. For the year, revenue was $429m, up 6%.
Table 1: Q420 UDC Revenue, Share Growth
UDC reported another strong quarter, which reflected the growth in OLED shipments for smartphones and TV panels. Revenue was $141.5m up 39.1% Y/Y and 20.8% sequentially. As shown in the table below, Q420 was UDC’s highest revenue quarter ever. The Q&A portion of the earnings call provided little insight to their most significant developments; a high efficiency blue and OVJP, their maskless dry printing process, other than they continue to invest in both projects. The outlook for the rest of the year was positive a function of 1) LG’s full operation of the Guangzhou fab, comparable to Q420 and increased capacity for smartphones, which they put at 50%. They did not mention the improved yields in China, which should contribute to continued growth. For the year, revenue was $429m, up 6%.
Table 1: Q420 UDC Revenue, Share Growth
Figure 1: UDC Revenue by Quarter
