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TheStreet Open House

Universal Display, First Solar: After-Hours Trading (Update 1)

Updated from 5:10 p.m. ET to include latest share prices, additional information about Dreamworks, TeleTech, and Verisk Analytics.

NEW YORK ( TheStreet) -- Shares of Universal Display (PANL) fell in late trades despite an above-consensus quarterly profit from the developer of flat panel display and lighting technologies.

The Ewing, N.J.-based company posted earnings of $5.7 million, or 12 cents a share, for the three months ended Dec. 31 on revenue of $18.7 million. The average estimate of analysts polled by Thomson Reuters was for a profit of 6 cents a share in the December-ended period on revenue of $17.9 million.

Valuation may be an issue. Based on Tuesday's regular session close at $45.68, the stock has more than doubled off its 52-week low of $22.73 dating back to Aug. 8. The company also didn't provide guidance in its press release.



The stock was last quoted at $42.51, down 7%, on volume of nearly 400,000, according to Nasdaq.com. The shares are up nearly 11% overall in the past year, reflecting a 22%-plus surge to start the year. At current levels, Universal Panel's forward price-to-earnings multiple is a lofty 55.7X.

"Strong demand for both our proprietary materials and technology sustained the momentum in our business, led to another quarter of top and bottom line growth, and lifted the company to its first ever full year profit," said Sidney Rosenblatt, the company's chief financial officer, in a statement. "Results continue to reflect increased penetration of our OLED materials and technology into the commercial display market, as well as growth in research and development efforts from a broad cross-section of manufacturers developing new applications for our OLED materials and technology."

The sell side was fairly bullish ahead of the report with 8 of the 14 analysts covering Universal Panel at strong buy (4) or buy (4), and the 12-month median price target sitting at $59, implying potential upside of 29% from current levels.

Check out TheStreet's quote page for Universal Panel for year-to-date share performance, analyst ratings, earnings estimates and much more.

First Solar

It was a downer of an extended session for First Solar (FSLR) on Tuesday after the company came up short in its fourth quarter, reporting both profit and revenue that was well below Wall Street's expectations. The company also lowered its revenue and cash flow outlook for fiscal 2012.

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