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Actionable news in OLED: Universal Display Corporation,

Universal Display beats 3Q profit forecasts

EWING, N.J. (AP) _ Universal Display Corp. (OLED) on Thursday reported third-quarter net income of $13.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Ewing, New Jersey-based company said it had profit of 28 cents.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The organic light-emitting diode technology company posted revenue of $61.7 million in the period.

Universal Display expects full-year revenue in the range of $310 million to $320 million.

Universal Display shares have more than doubled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $144.35, nearly tripling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OLED at https://www.zacks.com/ap/OLED


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