Nov 7 LED supplier Universal Display Corp
posted a surprise quarterly loss and cut its full-year
revenue forecast, sending its shares down 30 percent in extended
The company now expects full-year revenue of $80 million to
$82 million, below its earlier forecast of $90 million to $110
Analysts were expecting $99.8 million, according to Thomson
Universal Display reported a third-quarter loss of $5.5
million, or 12 cents per share, compared with a profit of $6
million, or 12 cents per share, a year earlier.
Revenue fell about 43 percent to $12.5 million.
Analysts on average had expected a profit of 5 cents per
share, excluding items, on revenue of $18.9 million.
The company said it didn't get any revenue from a unit of
Samsung Electronics in the third quarter, which
would have added $7.5 million to total revenue. The Samsung unit
is obligated to pay $15 million in the second and the fourth
quarters, Universal Display said on a conference call on
The company said in August last year it will license certain
technologies and sell materials to a Samsung unit, which will
help the Korean company to develop next generation flat-panel
Shares of Ewing, New Jersey-based Universal Display fell
$8.39 to $19.79 after the bell. They closed at $28.18 on
Wednesday on the Nasdaq.
Universal Display has more than 1,000 patents for
technologies and materials, which are vital for manufacturing
organic light emitting device (OLED) panels used in smartphones