$OLED
UNIVERSAL DISPLAY CORP \PA\

2012 Q4 Form 10-K Financial Statement

#000100528414000017 Filed on February 28, 2014

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2012 Q2
Revenue $28.13M $12.50M $29.99M
YoY Change 50.77% -42.58% 166.5%
Cost Of Revenue $1.500M $1.094M $1.611M
YoY Change -6.25% -62.28% 302.75%
Gross Profit $26.60M $11.41M $28.38M
YoY Change 55.56% -39.63% 160.33%
Gross Profit Margin 94.55% 91.25% 94.63%
Selling, General & Admin $10.30M $5.275M $5.189M
YoY Change 35.53% -23.55% -18.92%
% of Gross Profit 38.72% 46.23% 18.29%
Research & Development $8.000M $8.177M $7.236M
YoY Change 35.59% 34.05% 29.21%
% of Gross Profit 30.08% 71.67% 25.5%
Depreciation & Amortization $3.400M $2.600M $500.0K
YoY Change 750.0% 550.0% 66.67%
% of Gross Profit 12.78% 22.79% 1.76%
Operating Expenses $18.30M $18.57M $17.08M
YoY Change 35.56% 43.91% 43.5%
Operating Profit $8.300M -$6.061M $12.91M
YoY Change 130.56% -201.02% -1391.0%
Interest Expense $200.0K $5.000K $18.00K
YoY Change -33.33% -99.17% -99.62%
% of Operating Profit 2.41% 0.14%
Other Income/Expense, Net
YoY Change
Pretax Income $8.600M -$5.794M $13.25M
YoY Change 120.51% -189.14% 268.03%
Income Tax $3.200M -$326.0K $2.285M
% Of Pretax Income 37.21% 17.25%
Net Earnings $5.385M -$5.468M $10.96M
YoY Change -6.09% -191.3% 230.94%
Net Earnings / Revenue 19.14% -43.73% 36.56%
Basic Earnings Per Share $0.12 -$0.12 $0.24
Diluted Earnings Per Share $0.12 -$0.12 $0.23
COMMON SHARES
Basic Shares Outstanding 46.01M shares 45.95M shares
Diluted Shares Outstanding 46.01M shares 46.86M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $245.2M $238.8M $350.0M
YoY Change -29.15% -29.35% 7.23%
Cash & Equivalents $85.92M $74.19M $159.6M
Short-Term Investments $159.3M $164.6M $190.4M
Other Short-Term Assets $3.918M $4.400M $3.900M
YoY Change 138.18% 158.82% 39.29%
Inventory $11.02M $9.500M $8.600M
Prepaid Expenses
Receivables $8.657M $7.900M $9.600M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $267.5M $260.5M $372.1M
YoY Change -26.15% -26.35% 10.81%
LONG-TERM ASSETS
Property, Plant & Equipment $11.81M $11.70M $12.00M
YoY Change 8.49% 8.33% 14.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.300M $1.200M $1.200M
YoY Change
Other Assets $277.0K $300.0K $300.0K
YoY Change -7.36% 0.0% 0.0%
Total Long-Term Assets $118.0M $120.5M $13.80M
YoY Change 919.35% 947.83% 23.21%
TOTAL ASSETS
Total Short-Term Assets $267.5M $260.5M $372.1M
Total Long-Term Assets $118.0M $120.5M $13.80M
Total Assets $385.5M $381.0M $385.9M
YoY Change 3.11% 4.33% 11.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.596M $5.500M $7.100M
YoY Change 59.05% -5.17% 121.88%
Accrued Expenses $10.39M $9.200M $7.900M
YoY Change 15.23% 41.54% 38.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.30M $20.10M $20.90M
YoY Change 14.25% 10.44% 14.84%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.00M $12.00M $12.10M
YoY Change 7.44% 8.11% 10.0%
Total Long-Term Liabilities $13.00M $12.00M $12.10M
YoY Change 7.44% 8.11% 10.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.30M $20.10M $20.90M
Total Long-Term Liabilities $13.00M $12.00M $12.10M
Total Liabilities $35.29M $32.10M $33.00M
YoY Change 11.49% 9.56% 13.01%
SHAREHOLDERS EQUITY
Retained Earnings -$204.2M
YoY Change -4.52%
Common Stock $465.0K
YoY Change 0.87%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.202M
YoY Change
Treasury Stock Shares 205.9K shares
Shareholders Equity $350.2M $348.9M $352.9M
YoY Change
Total Liabilities & Shareholders Equity $385.5M $381.0M $385.9M
YoY Change 3.11% 4.33% 11.21%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2012 Q2
OPERATING ACTIVITIES
Net Income $5.385M -$5.468M $10.96M
YoY Change -6.09% -191.3% 230.94%
Depreciation, Depletion And Amortization $3.400M $2.600M $500.0K
YoY Change 750.0% 550.0% 66.67%
Cash From Operating Activities $10.60M -$2.000M $11.20M
YoY Change 23.26% -133.33% 5500.0%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K -$109.3M -$300.0K
YoY Change -20.0% 15514.29% -70.0%
Acquisitions
YoY Change
Other Investing Activities $6.600M $26.10M $4.000M
YoY Change -82.07% -386.81% -102.06%
Cash From Investing Activities $6.100M -$83.20M $3.700M
YoY Change -83.24% 748.98% -101.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.900M -200.0K 500.0K
YoY Change 1125.0% -103.45% -79.17%
NET CHANGE
Cash From Operating Activities 10.60M -2.000M 11.20M
Cash From Investing Activities 6.100M -83.20M 3.700M
Cash From Financing Activities -4.900M -200.0K 500.0K
Net Change In Cash 11.80M -85.40M 15.40M
YoY Change -73.54% -4370.0% -107.98%
FREE CASH FLOW
Cash From Operating Activities $10.60M -$2.000M $11.20M
Capital Expenditures -$400.0K -$109.3M -$300.0K
Free Cash Flow $11.00M $107.3M $11.50M
YoY Change 20.88% 1501.49% 858.33%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Stock Warrant Liability</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company had warrants to purchase shares of common stock outstanding containing a &#8220;down-round&#8221; provision.&#160;In accordance with the guidance in Accounting Standards Codification (ASC) 815, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Derivatives and Hedging</font><font style="font-family:inherit;font-size:10pt;">, the fair value of these warrants was required to be reported as a liability, with the changes of fair value recorded on the statement of income.&#160;The change in fair value of these warrants resulted in a non-cash loss on the Company&#8217;s consolidated statement of income of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$4.2 million</font><font style="font-family:inherit;font-size:10pt;"> for the year ended December 31, 2011. In 2011, all remaining outstanding stock warrants to purchase shares of the Company&#8217;s common stock were exercised.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value of the stock warrant liability was determined using the Black-Scholes option pricing model.</font></div></div>
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CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340
CY2011 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-1.822
CY2013 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-1.464
CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.293
CY2011 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2013 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.036
CY2012 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.071
CY2011 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.179
CY2013 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.109
CY2012 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.025
CY2013 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.008
CY2011 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.115
CY2013 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.013
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.023
CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.081
CY2012 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.000
CY2013 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.034
CY2011 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.347
CY2013 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
0 USD
CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
4300000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
21868000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
32841000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
39036000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
10999000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
10979000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
10999000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
10999000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
10999000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
126492000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
104624000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
126852000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
94011000 USD
CY2011 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
3729000 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
20069000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
57258000 USD
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-1288000 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-5201000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-18250000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
39008000 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
14868000 USD
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2441000 USD
CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-714000 USD
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-35044000 USD
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5208000 USD
CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-59352000 USD
CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2013 us-gaap Income Taxes Paid
IncomeTaxesPaid
6600000 USD
CY2012 us-gaap Income Taxes Paid
IncomeTaxesPaid
5300000 USD
CY2011 us-gaap Income Taxes Paid
IncomeTaxesPaid
2000000 USD
CY2011 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
6775000 USD
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4718000 USD
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3614000 USD
CY2011 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3479000 USD
CY2013 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7000000 USD
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2070000 USD
CY2013 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
2767000 USD
CY2012 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
3303000 USD
CY2011 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
4585000 USD
CY2011 us-gaap Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
3841000 USD
CY2013 us-gaap Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
-424000 USD
CY2012 us-gaap Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
7175000 USD
CY2011 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-341000 USD
CY2012 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
2284000 USD
CY2013 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
2706000 USD
CY2012 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
11000 USD
CY2013 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-11000 USD
CY2011 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
23000 USD
CY2011 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
82000 USD
CY2012 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-33000 USD
CY2013 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-35000 USD
CY2013 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
458574 shares
CY2011 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
956803 shares
CY2012 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
648661 shares
CY2013 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
187012 shares
CY2012 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
283665 shares
CY2011 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
445623 shares
CY2013 us-gaap Interest Expense
InterestExpense
47000 USD
CY2011 us-gaap Interest Expense
InterestExpense
50000 USD
CY2012 us-gaap Interest Expense
InterestExpense
48000 USD
CY2013Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
10595000 USD
CY2012Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
11018000 USD
CY2012 us-gaap Investment Income Interest
InvestmentIncomeInterest
1240000 USD
CY2013 us-gaap Investment Income Interest
InvestmentIncomeInterest
811000 USD
CY2011 us-gaap Investment Income Interest
InvestmentIncomeInterest
994000 USD
CY2012Q4 us-gaap Investments
Investments
159288000 USD
CY2013Q4 us-gaap Investments
Investments
209441000 USD
CY2013 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
0 USD
CY2012 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
0 USD
CY2011 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
6000 USD
CY2012Q4 us-gaap Liabilities
Liabilities
35289000 USD
CY2013Q4 us-gaap Liabilities
Liabilities
35068000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
462754000 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
385524000 USD
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
23229000 USD
CY2012Q4 us-gaap Liabilities Current
LiabilitiesCurrent
22299000 USD
CY2013 us-gaap License Costs
LicenseCosts
17273000 USD
CY2012 us-gaap License Costs
LicenseCosts
13385000 USD
CY2011 us-gaap License Costs
LicenseCosts
7442000 USD
CY2012Q4 us-gaap Long Term Investments
LongTermInvestments
1270000 USD
CY2013Q4 us-gaap Long Term Investments
LongTermInvestments
7417000 USD
CY2013 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:right;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;text-align:-moz-right;" align="right"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td width="3%" rowspan="1" colspan="1"></td><td width="97%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BUSINESS:</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Universal Display Corporation (the Company) is engaged in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in displays for smartphones, tablets and televisions as well as solid-state lighting applications. The Company's business strategy is to develop new OLED materials and sell those materials to product manufacturers. The Company develops and licenses its proprietary OLED technologies to product manufacturers for use in these applications. Through internal research and development efforts and acquisitions from and relationships with entities such as Princeton University (Princeton), the University of Southern California (USC), the University of Michigan (Michigan), Fujifilm Corporation (Fujifilm), Motorola Solutions, Inc. (f/k/a Motorola, Inc.) (Motorola) and PPG Industries, Inc. (PPG Industries), the Company has established a significant portfolio of proprietary OLED technologies and materials (see Notes 3, 5 and 7).</font></div></div>
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5549000 USD
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7540000 USD
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
258806000 USD
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-183789000 USD
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-36086000 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-54775000 USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
17754000 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
44987000 USD
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
16409000 USD
CY2011 us-gaap Net Income Loss
NetIncomeLoss
3155000 USD
CY2013 us-gaap Net Income Loss
NetIncomeLoss
74052000 USD
CY2012 us-gaap Net Income Loss
NetIncomeLoss
9660000 USD
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
57886000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
15382000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
5542000 USD
CY2013Q1 us-gaap Net Income Loss
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-4758000 USD
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
10964000 USD
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
-1221000 USD
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-5468000 USD
CY2012Q4 us-gaap Net Income Loss
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5385000 USD
CY2012Q4 us-gaap Noncurrent Assets
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11808000 USD
CY2013Q4 us-gaap Noncurrent Assets
NoncurrentAssets
14893000 USD
CY2011 us-gaap Operating Expenses
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55602000 USD
CY2013 us-gaap Operating Expenses
OperatingExpenses
108395000 USD
CY2012 us-gaap Operating Expenses
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69568000 USD
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
13676000 USD
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
5687000 USD
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
38244000 USD
CY2013Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
99745000 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current
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360000 USD
CY2013Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
301000 USD
CY2013Q4 us-gaap Other Assets Current
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6623000 USD
CY2012Q4 us-gaap Other Assets Current
OtherAssetsCurrent
3918000 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
277000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
242000 USD
CY2011 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
600000 USD
CY2012 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
628000 USD
CY2013 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
439000 USD
CY2012 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-473000 USD
CY2013 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
895000 USD
CY2011 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-419000 USD
CY2011 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
181000 USD
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
155000 USD
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1334000 USD
CY2011 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-182000 USD
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-186000 USD
CY2013 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1340000 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-901000 USD
CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
418000 USD
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
442000 USD
CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-31000 USD
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-1000 USD
CY2013 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-6000 USD
CY2013Q4 us-gaap Other Liabilities Current
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24000 USD
CY2012Q4 us-gaap Other Liabilities Current
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36000 USD
CY2012 us-gaap Other Noncash Expense
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0 USD
CY2011 us-gaap Payments To Acquire Intangible Assets
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440000 USD
CY2012 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
109102000 USD
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2624000 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2737000 USD
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4710000 USD
CY2013 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
362838000 USD
CY2011 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
337442000 USD
CY2012 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
304500000 USD
CY2013 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
1665000 USD
CY2011 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
1527000 USD
CY2012 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
1600000 USD
CY2013 us-gaap Other Noncash Expense
OtherNoncashExpense
0 USD
CY2011 us-gaap Other Noncash Expense
OtherNoncashExpense
9000 USD
CY2013 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5456000 USD
CY2012 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5202000 USD
CY2011 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2011 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4473000 USD
CY2013 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3268000 USD
CY2012 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4142000 USD
CY2013 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
359000 USD
CY2012Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
9837000 USD
CY2013Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
9436000 USD
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
2000 USD
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
2000 USD
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
321000 USD
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
343000 USD
CY2011 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
249936000 USD
CY2012 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
380253000 USD
CY2011 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
156717000 USD
CY2013 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
313132000 USD
CY2011 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
7400000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
32521000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
37649000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11808000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14893000 USD
CY2011 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
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CY2012 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2013 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2012 us-gaap Recognition Of Deferred Revenue
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CY2011 us-gaap Recognition Of Deferred Revenue
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CY2013 us-gaap Recognition Of Deferred Revenue
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CY2013 us-gaap Research And Development Expense
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CY2011 us-gaap Research And Development Expense
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CY2012 us-gaap Research And Development Expense
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CY2013 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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CY2012 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
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CY2011 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
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CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
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Revenues
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CY2012 us-gaap Revenues
Revenues
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CY2013 us-gaap Revenues
Revenues
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Revenues
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Revenues
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Revenues
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CY2012Q3 us-gaap Revenues
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CY2012Q2 us-gaap Revenues
Revenues
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CY2012Q1 us-gaap Revenues
Revenues
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CY2012Q4 us-gaap Revenues
Revenues
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CY2013 us-gaap Royalty Expense
RoyaltyExpense
3273000 USD
CY2011 us-gaap Royalty Expense
RoyaltyExpense
1360000 USD
CY2012 us-gaap Royalty Expense
RoyaltyExpense
2073000 USD
CY2011 us-gaap Royalty Revenue
RoyaltyRevenue
15345000 USD
CY2012 us-gaap Royalty Revenue
RoyaltyRevenue
31698000 USD
CY2013 us-gaap Royalty Revenue
RoyaltyRevenue
47006000 USD
CY2011 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
37444000 USD
CY2013 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
95713000 USD
CY2012 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
44472000 USD
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
19550000 USD
CY2011 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18940000 USD
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24745000 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
6077000 USD
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
4263000 USD
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
4373000 USD
CY2012 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
5.91
CY2013Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
570483 shares
CY2012 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
18.34
CY2011 us-gaap Share Based Goods And Nonemployee Services Transaction Stockholders Equity
ShareBasedGoodsAndNonemployeeServicesTransactionStockholdersEquity
7000 USD
CY2013Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
13651000 USD
CY2013Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
10.43
CY2013Q4 us-gaap Short Term Investments
ShortTermInvestments
202024000 USD
CY2012Q4 us-gaap Short Term Investments
ShortTermInvestments
158018000 USD
CY2011 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
307000 USD
CY2013 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
343000 USD
CY2012 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
321000 USD
CY2011 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
249629000 USD
CY2012Q4 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
50000000 USD
CY2013 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
195599 shares
CY2013 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
-5456000 USD
CY2012 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
-5202000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
427686000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
350235000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
57430000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
342227000 USD
CY2013Q4 us-gaap Tax Credit Carryforward Deferred Tax Asset
TaxCreditCarryforwardDeferredTaxAsset
26965000 USD
CY2012Q4 us-gaap Tax Credit Carryforward Deferred Tax Asset
TaxCreditCarryforwardDeferredTaxAsset
18612000 USD
CY2011 us-gaap Technology Services Revenue
TechnologyServicesRevenue
8500000 USD
CY2012 us-gaap Technology Services Revenue
TechnologyServicesRevenue
7074000 USD
CY2013 us-gaap Technology Services Revenue
TechnologyServicesRevenue
3920000 USD
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
205902 shares
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
401501 shares
CY2013 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
195599 shares
CY2012 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
205902 shares
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
10658000 USD
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
5202000 USD
CY2013 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
5500000 USD
CY2012Q4 panl Accrued Research And Development Agreement Fees
AccruedResearchAndDevelopmentAgreementFees
1130000 USD
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45951276 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43737968 shares
CY2013Q4 panl Accrued Consulting Fees Current
AccruedConsultingFeesCurrent
338000 USD
CY2012Q4 panl Accrued Consulting Fees Current
AccruedConsultingFeesCurrent
337000 USD
CY2012 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
5200000 USD
CY2012Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
308000 USD
CY2013Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
92000 USD
CY2013 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
CY2012Q4 panl Accrued Inventory
AccruedInventory
0 USD
CY2013Q4 panl Accrued Inventory
AccruedInventory
1564000 USD
CY2011 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-4190000 USD
CY2012 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Management&#8217;s Use of Estimates</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S.&#160;generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. </font></div></div>
CY2011 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
4500000 USD
CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
57100000 USD
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
4400000 USD
CY2013 us-gaap Valuation Allowances And Reserves Period Increase Decrease
ValuationAllowancesAndReservesPeriodIncreaseDecrease
-59352000 USD
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46883602 shares
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45140394 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46543605 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45898019 shares
CY2013Q4 panl Accrued Research And Development Agreement Fees
AccruedResearchAndDevelopmentAgreementFees
2158000 USD
CY2011 panl Common Stock From Warrant Exercises
CommonStockFromWarrantExercises
586972 shares
CY2012 panl Deferred Income Tax Expense Benefit Before Changein Valuation Allowance
DeferredIncomeTaxExpenseBenefitBeforeChangeinValuationAllowance
-11000 USD
CY2013 panl Deferred Income Tax Expense Benefit Before Changein Valuation Allowance
DeferredIncomeTaxExpenseBenefitBeforeChangeinValuationAllowance
17934000 USD
CY2011 panl Deferred Income Tax Expense Benefit Before Changein Valuation Allowance
DeferredIncomeTaxExpenseBenefitBeforeChangeinValuationAllowance
0 USD
CY2012Q4 panl Deferred Revenue Under License Agreements Not Yet Executed Or Deemed Effective
DeferredRevenueUnderLicenseAgreementsNotYetExecutedOrDeemedEffective
0 USD
CY2013Q4 panl Deferred Revenue Under License Agreements Not Yet Executed Or Deemed Effective
DeferredRevenueUnderLicenseAgreementsNotYetExecutedOrDeemedEffective
4300000 USD
CY2013Q4 panl Deferred Tax Assets Capitalized Research Expenditures
DeferredTaxAssetsCapitalizedResearchExpenditures
14012000 USD
CY2012Q4 panl Deferred Tax Assets Capitalized Research Expenditures
DeferredTaxAssetsCapitalizedResearchExpenditures
2009000 USD
CY2013Q4 panl Deferred Tax Assets Capitalized Technology License
DeferredTaxAssetsCapitalizedTechnologyLicense
2519000 USD
CY2012Q4 panl Deferred Tax Assets Capitalized Technology License
DeferredTaxAssetsCapitalizedTechnologyLicense
2525000 USD
CY2012Q4 panl Deferred Tax Assets Retirement Plan
DeferredTaxAssetsRetirementPlan
3432000 USD
CY2013Q4 panl Deferred Tax Assets Retirement Plan
DeferredTaxAssetsRetirementPlan
3315000 USD
CY2012Q4 panl Deferred Tax Liabilities Foreign Controlled Corporation
DeferredTaxLiabilitiesForeignControlledCorporation
0 USD
CY2013Q4 panl Deferred Tax Liabilities Foreign Controlled Corporation
DeferredTaxLiabilitiesForeignControlledCorporation
6070000 USD
CY2013 panl Effective Income Tax Rate Reconciliation Derivative Instruments
EffectiveIncomeTaxRateReconciliationDerivativeInstruments
0.000
CY2011 panl Effective Income Tax Rate Reconciliation Nondeductible Expense Other Employee Compensation Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOtherEmployeeCompensationExpense
0.069
CY2013 panl Effective Income Tax Rate Reconciliation Nondeductible Expense Other Employee Compensation Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOtherEmployeeCompensationExpense
0.023
CY2012 panl Effective Income Tax Rate Reconciliation Nondeductible Expense Other Employee Compensation Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOtherEmployeeCompensationExpense
0.042
CY2013 panl Effective Income Tax Rate Reconciliation Sale Of State Tax Attributes
EffectiveIncomeTaxRateReconciliationSaleOfStateTaxAttributes
0.000
CY2012 panl Effective Income Tax Rate Reconciliation Sale Of State Tax Attributes
EffectiveIncomeTaxRateReconciliationSaleOfStateTaxAttributes
0.000
CY2011 panl Effective Income Tax Rate Reconciliation Sale Of State Tax Attributes
EffectiveIncomeTaxRateReconciliationSaleOfStateTaxAttributes
0.508
CY2012 panl Exercise Of Common Stock Options And Warrants Net Of Tendered Shares Value
ExerciseOfCommonStockOptionsAndWarrantsNetOfTenderedSharesValue
855000 USD
CY2013 panl Exercise Of Common Stock Options And Warrants Net Of Tendered Shares Value
ExerciseOfCommonStockOptionsAndWarrantsNetOfTenderedSharesValue
2558000 USD
CY2011 panl Exercise Of Common Stock Options And Warrants Net Of Tendered Shares Value
ExerciseOfCommonStockOptionsAndWarrantsNetOfTenderedSharesValue
27755000 USD
CY2012Q4 panl Investments Amortized Cost Basis
InvestmentsAmortizedCostBasis
159306000 USD
CY2013Q4 panl Investments Amortized Cost Basis
InvestmentsAmortizedCostBasis
209470000 USD
CY2012Q4 panl Investments Gross Unrealized Gains
InvestmentsGrossUnrealizedGains
12000 USD
CY2013Q4 panl Investments Gross Unrealized Gains
InvestmentsGrossUnrealizedGains
35000 USD
CY2013 panl Defined Contribution Plan Matching Contribution Limit
DefinedContributionPlanMatchingContributionLimit
0.06
CY2013 panl Defined Contribution Plan Matching Percentage
DefinedContributionPlanMatchingPercentage
0.5
CY2013 panl Defined Contribution Plan Maximum Contribution Percentage
DefinedContributionPlanMaximumContributionPercentage
0.15
CY2011 panl Effective Income Tax Rate Reconciliation Changein State Apportionment
EffectiveIncomeTaxRateReconciliationChangeinStateApportionment
0.000
CY2012 panl Effective Income Tax Rate Reconciliation Changein State Apportionment
EffectiveIncomeTaxRateReconciliationChangeinStateApportionment
0.238
CY2013 panl Effective Income Tax Rate Reconciliation Changein State Apportionment
EffectiveIncomeTaxRateReconciliationChangeinStateApportionment
0.003
CY2012 panl Effective Income Tax Rate Reconciliation Controlled Foreign Corporation Percent
EffectiveIncomeTaxRateReconciliationControlledForeignCorporationPercent
0.000
CY2011 panl Effective Income Tax Rate Reconciliation Controlled Foreign Corporation Percent
EffectiveIncomeTaxRateReconciliationControlledForeignCorporationPercent
0.000
CY2013 panl Effective Income Tax Rate Reconciliation Controlled Foreign Corporation Percent
EffectiveIncomeTaxRateReconciliationControlledForeignCorporationPercent
0.156
CY2012 panl Effective Income Tax Rate Reconciliation Derivative Instruments
EffectiveIncomeTaxRateReconciliationDerivativeInstruments
0.000
CY2011 panl Effective Income Tax Rate Reconciliation Derivative Instruments
EffectiveIncomeTaxRateReconciliationDerivativeInstruments
0.584
CY2013Q4 panl Investments Gross Unrealized Losses
InvestmentsGrossUnrealizedLosses
64000 USD
CY2012Q4 panl Investments Gross Unrealized Losses
InvestmentsGrossUnrealizedLosses
30000 USD
CY2011 panl Issuance Of Common Stock In Connection With Materials And License Agreements Value
IssuanceOfCommonStockInConnectionWithMaterialsAndLicenseAgreementsValue
9000 USD
CY2011 panl Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Value
IssuanceOfCommonStockToBoardOfDirectorsAndScientificAdvisoryBoardValue
1648000 USD
CY2013 panl Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Value
IssuanceOfCommonStockToBoardOfDirectorsAndScientificAdvisoryBoardValue
1101000 USD
CY2012 panl Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Value
IssuanceOfCommonStockToBoardOfDirectorsAndScientificAdvisoryBoardValue
1094000 USD
CY2013 panl License Fee Agreement Termof Agreement
LicenseFeeAgreementTermofAgreement
P6Y4M24D
CY2013Q4 panl Long Term Purchase Commitment Percent Of Services Payable In Cash Or Shares
LongTermPurchaseCommitmentPercentOfServicesPayableInCashOrShares
0.5
CY2013 panl Number Of Board Members Elected By Class Shareholders
NumberOfBoardMembersElectedByClassShareholders
2 board_member
CY2010 panl Period Of Exemption On Withholding Tax On Royalty Payments
PeriodOfExemptionOnWithholdingTaxOnRoyaltyPayments
P5Y
CY2011 panl Proceeds From Sale Of Operating Losses And Tax Credits
ProceedsFromSaleOfOperatingLossesAndTaxCredits
2700000 USD
CY2012 panl Proceeds From Stock Options And Warrants Exercised
ProceedsFromStockOptionsAndWarrantsExercised
1483000 USD
CY2013 panl Proceeds From Stock Options And Warrants Exercised
ProceedsFromStockOptionsAndWarrantsExercised
2832000 USD
CY2011 panl Proceeds From Stock Options And Warrants Exercised
ProceedsFromStockOptionsAndWarrantsExercised
13343000 USD
CY2013 panl Research And Development Costs Incurred Under Materials Agreement
ResearchAndDevelopmentCostsIncurredUnderMaterialsAgreement
7470000 USD
CY2011 panl Research And Development Costs Incurred Under Materials Agreement
ResearchAndDevelopmentCostsIncurredUnderMaterialsAgreement
3539000 USD
CY2012 panl Shares Tendered To Net Share Settle Exercise Of Options
SharesTenderedToNetShareSettleExerciseOfOptions
5878 shares
CY2011 panl Stock Based Compensation To Board Of Directors And Scientific Advisory Board
StockBasedCompensationToBoardOfDirectorsAndScientificAdvisoryBoard
1377000 USD
CY2013 panl Stock Based Compensation To Board Of Directors And Scientific Advisory Board
StockBasedCompensationToBoardOfDirectorsAndScientificAdvisoryBoard
809000 USD
CY2012 panl Stock Based Compensation To Board Of Directors And Scientific Advisory Board
StockBasedCompensationToBoardOfDirectorsAndScientificAdvisoryBoard
781000 USD
CY2012 panl Research And Development Costs Incurred Under Materials Agreement
ResearchAndDevelopmentCostsIncurredUnderMaterialsAgreement
6170000 USD
CY2012 panl Research And Development Costs Incurred Under Sponsored Research Agreements
ResearchAndDevelopmentCostsIncurredUnderSponsoredResearchAgreements
2058000 USD
CY2013 panl Research And Development Costs Incurred Under Sponsored Research Agreements
ResearchAndDevelopmentCostsIncurredUnderSponsoredResearchAgreements
2671000 USD
CY2011 panl Research And Development Costs Incurred Under Sponsored Research Agreements
ResearchAndDevelopmentCostsIncurredUnderSponsoredResearchAgreements
1022000 USD
CY2012Q4 panl Reversal Of Accrued Bonus Compensation
ReversalOfAccruedBonusCompensation
703000 USD
CY2013 panl Scientific Advisory Board Compensation
ScientificAdvisoryBoardCompensation
583000 USD
CY2011 panl Scientific Advisory Board Compensation
ScientificAdvisoryBoardCompensation
861000 USD
CY2012 panl Scientific Advisory Board Compensation
ScientificAdvisoryBoardCompensation
423000 USD
CY2013 panl Series Shareholder Votes Per Share
SeriesShareholderVotesPerShare
1 vote_per_share
CY2013Q4 panl Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Terms
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerms
P1Y7M6D
CY2011 panl Shares Tendered To Net Share Settle Exercise Of Options
SharesTenderedToNetShareSettleExerciseOfOptions
32800 shares
CY2013 panl Shares Tendered To Net Share Settle Exercise Of Options
SharesTenderedToNetShareSettleExerciseOfOptions
20768 shares
CY2011 panl Stock Issued During Period Value Share Based Compensation Net Of Shares Witthheld For Employee Taxes
StockIssuedDuringPeriodValueShareBasedCompensationNetOfSharesWitthheldForEmployeeTaxes
2106000 USD
CY2012 panl Stock Issued During Period Value Share Based Compensation Net Of Shares Witthheld For Employee Taxes
StockIssuedDuringPeriodValueShareBasedCompensationNetOfSharesWitthheldForEmployeeTaxes
1125000 USD
CY2013 panl Stock Issued During Period Value Share Based Compensation Net Of Shares Witthheld For Employee Taxes
StockIssuedDuringPeriodValueShareBasedCompensationNetOfSharesWitthheldForEmployeeTaxes
3519000 USD
CY2012Q4 panl Stock Repurchase Program Authorized Period In Force
StockRepurchaseProgramAuthorizedPeriodInForce
P12M
CY2013Q4 panl Windfalls Includedin Net Operating Loss Carryforwards
WindfallsIncludedinNetOperatingLossCarryforwards
68600000 USD
CY2012Q4 panl Windfalls Includedin Net Operating Loss Carryforwards
WindfallsIncludedinNetOperatingLossCarryforwards
63800000 USD
CY2012 panl Withholding Tax Rate For Royalty Payments
WithholdingTaxRateForRoyaltyPayments
0.165
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0001005284
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
46438738 shares
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2013Q2 dei Entity Public Float
EntityPublicFloat
953262272 USD
CY2013 dei Entity Registrant Name
EntityRegistrantName
UNIVERSAL DISPLAY CORP \PA\
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

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