Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced it ranked 170 th on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. In its ninth year ranking as a Technology Fast 500™ award winner, and sixth year consecutively, Universal Display grew 652 percent from 2008 through 2012.
Universal Display’s President and Chief Executive Officer, Steven V. Abramson, credits the growing OLED display market and global adoption the Company’s UniversalPHOLED technologies and materials with the company’s 652 percent revenue growth. Abramson said, “Universal Display is in a strong position to take advantage of the growing OLED market, which is still young and poised for robust growth. We continue to develop a growing and protected phosphorescent OLED IP and materials technology portfolio, which will allow us to meet increased demand among global OLED display and lighting manufacturers. As a pioneer and leader in the OLED market, we will continue to target current and future applications for our technologies to increase shareholder value.”
“The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader. “This year’s list is a who’s who of companies behind the most exciting and innovative products and services in the technology space. We congratulate the Fast 500 companies and look forward to what they do next.”
“The fastest growing companies in the US are drivers of constant innovation and operate with the agility to stay ahead of a quickly evolving marketplace, and software, biotech/pharma and internet companies continue to be at the forefront,” added James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP. “The companies excelling in these sectors have a startup mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year.”