Attributes 130 Percent Revenue Growth to
Broadening Demand for High Performing, Energy-Efficient, Bright,
Beautiful OLED Displays
Universal Display Corporation (Nasdaq: OLED), enabling
energy-efficient displays and lighting with its UniversalPHOLED®
technology and materials, today announced it ranked 474 on
Deloitte’s Technology Fast 500™, a ranking of the 500 fastest
growing technology, media, telecommunications, life sciences and
energy tech companies in North America based on its fiscal year
revenue growth from 2012 to 2015. Universal Display grew 130
percent during this period.
Universal Display’s President and Chief Executive Officer,
Steven V. Abramson, credits the emergence of a multitude of new
consumer electronics manufacturers adopting OLED for its design
roadmaps, with the Company’s 130% revenue growth. Abramson said,
“With the ongoing proliferation of OLED products, we see a market
environment that offers extraordinary and expanding opportunities,
including novel plastic-based form factors that we believe can
blaze new paths for innovative and novel consumer goods in the
display and lighting landscape. OLED momentum is accelerating and
it is spurring new investments, new capacity, and new products,
which we expect to substantially bolster the growth of the industry
as well as our Company. Our inclusion in these prestigious Deloitte
rankings for the twelfth time and ninth consecutive year is a true
honor and speaks to the extraordinary work and commitment to
excellence by UDC employees and our highly valued industry
partners.”
“Today, when every organization can be a tech company, the most
effective businesses not only foster the courage to explore change,
but also encourage creativity in using and applying existing assets
in new ways, as resourcefully as possible,” said Sandra Shirai,
principal, Deloitte Consulting LLP and U.S. technology, media and
telecommunications industry leader. “This ingenious approach to
innovation calls for the encouragement of curiosity and
collaboration both within and outside the office walls.”
“This year’s Fast 500 winners showcase that when organizations
are open to diverse perspectives and insights, they are able to
create an environment for their employees and customers to see the
possibilities and ingenious solutions that might lie ahead,” added
Jim Atwell, national managing partner of the emerging growth
company practice, Deloitte & Touche LLP. “Entrepreneurial
environments foster change and innovation within businesses, and we
look forward to watching these companies continue to drive change
across all sectors.”
About Deloitte’s 2016 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest
growing technology, media, telecommunications, life sciences and
energy tech companies – both public and private – in North America.
Technology Fast 500 award winners are selected based on percentage
fiscal year revenue growth from 2012 to 2015.
In order to be eligible for Technology Fast 500 recognition,
companies must own proprietary intellectual property or technology
that is sold to customers in products that contribute to a majority
of the company's operating revenues. Companies must have base-year
operating revenues of at least $50,000 USD, and current-year
operating revenues of at least $5 million USD. Additionally,
companies must be in business for a minimum of four years and be
headquartered within North America.
As used in this document, “Deloitte” means Deloitte LLP and its
subsidiaries. Please see www.deloitte.com/us/about for a detailed
description of the legal structure of Deloitte LLP and its
subsidiaries. Certain services may not be available to attest
clients under the rules and regulations of public accounting.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in
developing and delivering state-of-the-art, organic light emitting
diode (OLED) technologies, materials and services to the display
and lighting industries. Founded in 1994, the Company currently
owns or has exclusive, co-exclusive or sole license rights with
respect to more than 4,200 issued and pending patents worldwide.
Universal Display licenses its proprietary technologies, including
its breakthrough high-efficiency UniversalPHOLED® phosphorescent
OLED technology that can enable the development of low power and
eco-friendly displays and white lighting. The Company also develops
and offers high-quality, state-of-the-art UniversalPHOLED materials
that are recognized as key ingredients in the fabrication of OLEDs
with peak performance. In addition, Universal Display delivers
innovative and customized solutions to its clients and partners
through technology transfer, collaborative technology development
and on-site training.
Based in Ewing, New Jersey, with international offices in China,
Hong Kong, Ireland, Japan, South Korea and Taiwan, Universal
Display works and partners with a network of world-class
organizations, including Princeton University, the University of
Southern California, the University of Michigan, and PPG
Industries, Inc. The Company has also established relationships
with companies such as AU Optronics Corporation, BOE Technology,
DuPont Displays, Inc., Innolux Corporation, Kaneka Corporation,
Konica Minolta Technology Center, Inc., LG Display Co., Ltd.,
Lumiotec, Inc., OLEDWorks LLC, OSRAM, Pioneer Corporation, Samsung
Display Co., Ltd., Sumitomo Chemical Company, Ltd., Tianma
Micro-electronics Co., and Tohoku Pioneer Corporation. To learn
more about Universal Display, please visit http://www.oled.com.
Universal Display Corporation and the Universal Display logo are
trademarks or registered trademarks of Universal Display
Corporation. All other company, brand or product names may be
trademarks or registered trademarks.
All statements in this document that are not historical, such as
those relating to Universal Display Corporation’s technologies and
potential applications of those technologies, the Company’s
expected results as well as the growth of the OLED market and the
Company’s opportunities in that market, are forward-looking
financial statements within the meaning of the Private Securities
Litigation Reform Act of 1995. You are cautioned not to place undue
reliance on any forward-looking statements in this document, as
they reflect Universal Display Corporation’s current views with
respect to future events and are subject to risks and uncertainties
that could cause actual results to differ materially from those
contemplated. These risks and uncertainties are discussed in
greater detail in Universal Display Corporation’s periodic reports
on Form 10-K and Form 10-Q filed with the Securities and Exchange
Commission, including, in particular, the section entitled “Risk
Factors” in Universal Display Corporation’s annual report on Form
10-K for the year ended December 31, 2015. Universal Display
Corporation disclaims any obligation to update any forward-looking
statement contained in this document.
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version on businesswire.com: http://www.businesswire.com/news/home/20161116006545/en/
Universal Display CorporationDarice Liu, 609-671-0980
x570investor@oled.commedia@oled.com
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