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Universal Display's CEO Hosts Annual Meeting Of Shareholders Conference (Transcript)

For the past year and a half we are seeing market projections increasing for OLED which is different than the first decade and a half that we are working in this field, because the first decade and a half we will be presenting the display numbers in every year and we change the dates on the chart and say in five years it will be a $3 billion market last year. Well it was a $3 billion market last year.

So you see the way this growth and we expect our company to grow with it. And if you look at our historical financial performance, our revenues have doubled over the last three years, essentially in line with the market. We are giving guidance of $90 million to $110 million for this year. We're very comfortable with that guidance and as I mentioned before, we made money last year, in the first time of our history and we intend to make much more money moving forward.

Very strong profitable structure; in the late 2010, and we draw close in 2011, so without cash and equivalents we are $46 million and that’s expanded to $74 million and the shareholders equity $342 million and no debt. So in part 30 years ago, A; always have backups, and B; no debt; and I am not going to say any jokes about Europe right now.

With multiple high growth markets, looking and exploiting lighting markets and each of these markets actually have slightly different pressure points. In the portable electronic market we have lower power consumption, lower power consumption is heavy, thanks Phosphorescence and OLED also looks better than an LCD; take the only experiment, any of the Galaxy smartphone, and you mix with best iPhone and tell me which one you like better. A vast majority of people are going to go with the OLED phone. There are LCDs and as always been other cost events

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