This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Universal Display Corporation Holds 2013 Annual Meeting Of Shareholders

Stocks in this article: PANL

Universal Display Corporation (NASDAQ:PANL), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today held its 2013 Annual Meeting of Shareholders. In addition to updating shareholders on its strong growth over the past year, Universal Display Corporation announced that it was changing its stock symbol - to OLED – and its URL – to www.udcoled.com.

In presiding over the Annual Meeting, Steven V. Abramson, Universal Display’s President and Chief Executive Officer, announced, “Universal Display is well positioned to leverage the burgeoning organic light emitting diode (OLED) industry, which is on the cusp of rapid growth. Over our 15-year journey, we’ve grown into a leading OLED technology, material and service provider to a global list of premier display and lighting manufacturers. With increasing signs of the OLED market’s robust trajectory coupled with our expanding relationships, we believe now is the opportune time to leverage Universal Display’s strong brand identity by appropriately aligning our public persona with the OLED name by adopting it in both the public stock market and across our web properties.”

A YEAR OF OUTSTANDING GROWTH

During the course of the meeting, Mr. Abramson also reviewed Universal Display’s record of growth across virtually all dimensions of the business, including revenues, earnings, patent portfolio, product portfolio, employees, customers, physical plant, commercial and research partnerships and geographic footprint.

2012 was very successful from a financial growth perspective, with the company reporting its second consecutive profitable year. Furthermore, net income more than tripled, operating income rose 141% and revenues were up 36% compared to 2011.

Mr. Abramson also noted a number of major business milestones achieved during 2012, highlighted by the purchase of Fujifilm’s portfolio of more than 1,200 OLED worldwide patents and patent applications. This acquisition nearly doubled Universal Display’s existing patent portfolio, while also enabling the company to explore new and exciting areas of OLED materials and product development. In addition, the company announced that its newly introduced phosphorescent green host and emitter materials have been adopted for commercial production by a leading global display manufacturer. “We believe that the commercial implementation of a second color material and technology is a clear sign that Universal Display’s products are being more widely adopted in the market, marking yet another milestone along the Company’s strategic growth path to further encourage broader adoption of OLED technology and materials throughout the display and lighting markets.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs