Universal Display Corporation (Nasdaq: OLED), enabling
energy-efficient displays and lighting with its UniversalPHOLED®
technology and materials, today held its 2018 Annual Meeting of
Shareholders.
“2017 was a stellar year filled with growth, including
record-high revenues, numerous new customer agreements, new OLED
consumer electronic products, and the doubling of our production
capabilities at PPG Industries. We also demonstrated significant
R&D breakthroughs with our new and next-generation red, green,
yellow and blue emissive systems and organic vapor jet printing
(OVJP) technology for the manufacture of large area OLED TVs.
Additionally, we expanded the Adesis footprint to support our
discovery and development activities and contract research
organization (CRO) business,” said Steven V. Abramson, Universal
Display's President and Chief Executive Officer. “We believe that
we are in a multi-year OLED capex growth cycle. After a phenomenal
year-and-a-half of new OLED capacity installations, 2018 is proving
to be a year of capacity digestion. During this period, a number of
OLED panel manufacturers continue to build new OLED production
lines, which are slated to begin ramping in 2019.”
Abramson continued, “We believe that the OLED market’s growth
story, and our growth story, are still in their early chapters.
Since our inception in 1994, we have invested over half a billion
dollars to advance our company from a start-up to a leading player
in the global OLED ecosystem. Through these twenty-plus years, we
have accumulated an extraordinary wealth of knowledge and know-how,
further expanded our broad and deep IP matrix, and built up our
R&D prowess to innovate, develop and deliver new materials and
technologies to our customers. We believe that we are on the right
path for long-term growth, long-term market leadership and
long-term profitability.”
During the annual meeting, shareholders voted on the four
proposals described in the Company’s most recent proxy statement.
The shareholders re-elected all eight nominees for the Company’s
Board of Directors, approved a non-binding, advisory resolution on
compensation of the Company’s named executive officers, approved an
amendment to the Company’s Amended and Restated Articles of
Incorporation to increase the Company’s authorized shares of
capital stock, and ratified the appointment of KPMG LLP as the
Company’s independent registered public accounting firm for
2018.
The presentation was simultaneously broadcasted over the
Internet. An online archive of the webcast will be available on the
events page of the Company's Investor Relations website at
ir.oled.com.
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 4,800 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 solid-state 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.
Headquartered in Ewing, New Jersey, with international offices
in China, Hong Kong, Ireland, Japan, South Korea, and Taiwan, and
wholly-owned subsidiary Adesis, Inc. based in New Castle, Delaware,
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., EverDisplay Optronics (Shanghai) Limited,
Govisionox Optoelectronics, Innolux Corporation, Japan Display
Inc., Kaneka Corporation, Konica Minolta Technology Center, Inc.,
LG Display Co., Ltd., Lumiotec, Inc., OLEDWorks LLC, OSRAM, Pioneer
Corporation, Royole Corporation, Samsung Display Co., Ltd., Sharp
Corporation, Sumitomo Chemical Company, Ltd., Tianma
Micro-electronics, Tohoku Pioneer Corporation and Visionox
Technology. To learn more about Universal Display Corporation,
please visit http://www.oled.com.
Universal Display Corporation and the Universal Display
Corporation 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 and future declaration of dividends, 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, 2017. Universal Display Corporation
disclaims any obligation to update any forward-looking statement
contained in this document.
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Universal DisplayDarice Liu, 609-671-0980
x570investor@oled.commedia@oled.com
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