2018 Q2 Form 10-Q Financial Statement
#000156459018021028 Filed on August 09, 2018
Income Statement
| Concept | 2018 Q2 | 2017 Q2 |
|---|---|---|
| Revenue | $56.15M | $102.5M |
| YoY Change | -45.23% | 59.2% |
| Cost Of Revenue | $13.20M | $14.30M |
| YoY Change | -7.69% | 151.58% |
| Gross Profit | $44.51M | $91.20M |
| YoY Change | -51.19% | 55.35% |
| Gross Profit Margin | 79.28% | 88.97% |
| Selling, General & Admin | $11.56M | $9.839M |
| YoY Change | 17.51% | 27.98% |
| % of Gross Profit | 25.97% | 10.79% |
| Research & Development | $12.90M | $10.70M |
| YoY Change | 20.56% | -2.73% |
| % of Gross Profit | 28.98% | 11.73% |
| Depreciation & Amortization | $2.200M | $6.700M |
| YoY Change | -67.16% | 81.08% |
| % of Gross Profit | 4.94% | 7.35% |
| Operating Expenses | $11.56M | $30.68M |
| YoY Change | -62.32% | 24.31% |
| Operating Profit | $32.95M | $60.52M |
| YoY Change | -45.55% | 77.87% |
| Interest Expense | $1.800M | $800.0K |
| YoY Change | 125.0% | 9900.0% |
| % of Operating Profit | 5.46% | 1.32% |
| Other Income/Expense, Net | -$12.00K | $802.0K |
| YoY Change | -101.5% | -168.2% |
| Pretax Income | $12.70M | $61.32M |
| YoY Change | -79.29% | 86.68% |
| Income Tax | $1.900M | $14.13M |
| % Of Pretax Income | 14.96% | 23.05% |
| Net Earnings | $10.81M | $47.19M |
| YoY Change | -77.08% | 116.43% |
| Net Earnings / Revenue | 19.26% | 46.03% |
| Basic Earnings Per Share | $0.23 | $0.99 |
| Diluted Earnings Per Share | $0.23 | $0.99 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 46.87M | 46.74M |
| Diluted Shares Outstanding | 46.90M | 46.81M |
Balance Sheet
| Concept | 2018 Q2 | 2017 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $457.4M | $365.6M |
| YoY Change | 25.11% | 15.62% |
| Cash & Equivalents | $103.8M | $109.4M |
| Short-Term Investments | $353.7M | $256.1M |
| Other Short-Term Assets | $20.30M | $7.200M |
| YoY Change | 181.94% | -54.14% |
| Inventory | $56.00M | $24.40M |
| Prepaid Expenses | ||
| Receivables | $35.60M | $39.70M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $569.4M | $436.9M |
| YoY Change | 30.33% | 19.27% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $62.30M | $38.70M |
| YoY Change | 60.98% | 71.24% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $14.80M | |
| YoY Change | -6.33% | |
| Other Assets | $50.60M | $44.40M |
| YoY Change | 13.96% | 8076.8% |
| Total Long-Term Assets | $263.8M | $270.7M |
| YoY Change | -2.55% | 26.67% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $569.4M | $436.9M |
| Total Long-Term Assets | $263.8M | $270.7M |
| Total Assets | $833.2M | $707.6M |
| YoY Change | 17.75% | 22.0% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $7.900M | $17.80M |
| YoY Change | -55.62% | 179.52% |
| Accrued Expenses | $24.40M | $12.40M |
| YoY Change | 96.77% | 15.88% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $101.5M | $41.42M |
| YoY Change | 145.04% | 49.4% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $18.33M | $58.40M |
| YoY Change | -68.61% | 0.0% |
| Total Long-Term Liabilities | $18.33M | $58.40M |
| YoY Change | -68.61% | 0.0% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $101.5M | $41.42M |
| Total Long-Term Liabilities | $18.33M | $58.40M |
| Total Liabilities | $182.6M | $99.82M |
| YoY Change | 82.92% | 15.96% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $55.62M | |
| YoY Change | -211.51% | |
| Common Stock | $484.0K | |
| YoY Change | 0.21% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | $40.16M | |
| YoY Change | 0.0% | |
| Treasury Stock Shares | $1.362M | |
| Shareholders Equity | $650.7M | $607.8M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $833.2M | $707.6M |
| YoY Change | 17.74% | 22.01% |
Cashflow Statement
| Concept | 2018 Q2 | 2017 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $10.81M | $47.19M |
| YoY Change | -77.08% | 116.43% |
| Depreciation, Depletion And Amortization | $2.200M | $6.700M |
| YoY Change | -67.16% | 81.08% |
| Cash From Operating Activities | $11.20M | $55.00M |
| YoY Change | -79.64% | 52.78% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$4.700M | -$9.100M |
| YoY Change | -48.35% | -90.69% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$72.10M | -$26.40M |
| YoY Change | 173.11% | -209.09% |
| Cash From Investing Activities | -$76.70M | -$35.50M |
| YoY Change | 116.06% | -51.7% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -7.800M | -6.200M |
| YoY Change | 25.81% | 138.46% |
| NET CHANGE | ||
| Cash From Operating Activities | 11.20M | 55.00M |
| Cash From Investing Activities | -76.70M | -35.50M |
| Cash From Financing Activities | -7.800M | -6.200M |
| Net Change In Cash | -73.30M | 13.30M |
| YoY Change | -651.13% | -133.17% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $11.20M | $55.00M |
| Capital Expenditures | -$4.700M | -$9.100M |
| Free Cash Flow | $15.90M | $64.10M |
| YoY Change | -75.2% | -52.06% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2017Q2 | us-gaap |
Investment Income Net
InvestmentIncomeNet
|
796000 | |
| CY2018Q2 | us-gaap |
Investment Income Net
InvestmentIncomeNet
|
1766000 | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.223 | ||
| CY2018Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
18334000 | |
| CY2017Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2017Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | |
| CY2018Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
48650696 | |
| CY2017Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
48476034 | |
| CY2018Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
47289059 | |
| CY2017Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
47118171 | |
| CY2018Q2 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1361637 | |
| CY2017Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1357863 | |
| CY2018Q2 | us-gaap |
Revenues
Revenues
|
56149000 | |
| CY2017Q2 | us-gaap |
Revenues
Revenues
|
102513000 | |
| CY2018Q2 | us-gaap |
Gross Profit
GrossProfit
|
44514000 | |
| CY2017Q2 | us-gaap |
Gross Profit
GrossProfit
|
91203000 | |
| CY2018Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
11562000 | |
| CY2017Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
9839000 | |
| CY2018Q2 | oled |
Amortization Of Acquired Technology And Other Intangible Assets
AmortizationOfAcquiredTechnologyAndOtherIntangibleAssets
|
5495000 | |
| CY2017Q2 | oled |
Amortization Of Acquired Technology And Other Intangible Assets
AmortizationOfAcquiredTechnologyAndOtherIntangibleAssets
|
5495000 | |
| CY2018Q2 | oled |
Patent Costs
PatentCosts
|
2029000 | |
| CY2018Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-12000 | |
| CY2017Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
6000 | |
| CY2018Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.06 | |
| CY2017Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.03 | |
| CY2017Q2 | us-gaap |
Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditTax
|
-187000 | |
| CY2017Q4 | us-gaap |
Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
|
-17894000 | |
| CY2017Q4 | oled |
Adjusted Balance Stockholder Equity
AdjustedBalanceStockholderEquity
|
641160000 | |
| us-gaap |
Dividends Cash
DividendsCash
|
5659000 | ||
| us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
6035000 | ||
| us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
11031000 | ||
| us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
477000 | ||
| oled |
Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Value
IssuanceOfCommonStockToBoardOfDirectorsAndScientificAdvisoryBoardValue
|
2303000 | ||
| us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
564000 | ||
| us-gaap |
Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
|
29266000 | ||
| us-gaap |
Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
|
4873000 | ||
| us-gaap |
Depreciation
Depreciation
|
4422000 | ||
| us-gaap |
Depreciation
Depreciation
|
2398000 | ||
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
10986000 | ||
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
10987000 | ||
| us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
-2329000 | ||
| us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
-1260000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6163000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5404000 | ||
| oled |
Stock Based Compensation To Board Of Directors And Scientific Advisory Board
StockBasedCompensationToBoardOfDirectorsAndScientificAdvisoryBoard
|
2003000 | ||
| oled |
Stock Based Compensation To Board Of Directors And Scientific Advisory Board
StockBasedCompensationToBoardOfDirectorsAndScientificAdvisoryBoard
|
1328000 | ||
| us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
469000 | ||
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
19312000 | ||
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
7408000 | ||
| us-gaap |
Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
|
2252000 | ||
| us-gaap |
Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
|
2088000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-16772000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
14708000 | ||
| us-gaap |
Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
|
19778000 | ||
| us-gaap |
Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
|
7123000 | ||
| us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
9058000 | ||
| us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
799000 | ||
| us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
37909000 | ||
| us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
10000 | ||
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-13123000 | ||
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-1916000 | ||
| us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-25000 | ||
| us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-821000 | ||
| us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
64423000 | ||
| us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
505000 | ||
| us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
18334000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
49952000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
56629000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
13420000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
9717000 | ||
| us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
260711000 | ||
| us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
255224000 | ||
| us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
211847000 | ||
| us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
189335000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-62284000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-75606000 | ||
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
436000 | ||
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
349000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
477000 | ||
| oled |
Proceeds From Stock Options And Warrants Exercised
ProceedsFromStockOptionsAndWarrantsExercised
|
30000 | ||
| us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
11031000 | ||
| us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
8501000 | ||
| us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
5659000 | ||
| us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
2828000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-16731000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-10950000 | ||
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-29063000 | ||
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-29927000 | ||
| CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
139365000 | |
| CY2017Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
109438000 | |
| us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
|
219000 | ||
| us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
|
140000 | ||
| oled |
Other Significant Non Cash Transaction Increase Decrease In Accounts Payable And Accrued Expenses Related To Purchases Of Property And Equipment
OtherSignificantNonCashTransactionIncreaseDecreaseInAccountsPayableAndAccruedExpensesRelatedToPurchasesOfPropertyAndEquipment
|
3100000 | ||
| oled |
Other Significant Non Cash Transaction Increase Decrease In Accounts Payable And Accrued Expenses Related To Purchases Of Property And Equipment
OtherSignificantNonCashTransactionIncreaseDecreaseInAccountsPayableAndAccruedExpensesRelatedToPurchasesOfPropertyAndEquipment
|
4169000 | ||
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="font-weight:normal;"></font><font style="font-size:10pt;">BUSINESS:</font></p></td></tr></table></div> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Universal Display Corporation (the Company) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. OLEDs are thin, lightweight and power-efficient solid-state devices that emit light that can be manufactured on both flexible and rigid substrates, making them highly suitable for use in full-color displays and as lighting products. OLED displays are capturing a growing share of the display market. The Company believes this is because OLEDs offer potential advantages over competing display technologies with respect to power efficiency, contrast ratio, viewing angle, video response time, form factor and manufacturing cost. The Company also believes that OLED lighting products have the potential to replace many existing light sources in the future because of their high power efficiency, excellent color rendering index, low operating temperature and novel form factor. The Company's technology leadership and intellectual property position should enable it to share in the revenues from OLED displays and lighting products as they enter mainstream consumer and other markets.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company's primary business strategy is to (1) further develop and license its proprietary OLED technologies to manufacturers of products for display applications, such as mobile phones, televisions, tablets, wearables, portable media devices, notebook computers, personal computers, and automotive interiors, and specialty and general lighting products; and (2) develop new OLED materials and sell existing and any new materials to those product manufacturers. The Company has established a significant portfolio of proprietary OLED technologies and materials, primarily through internal research and development efforts and acquisitions of patents and patent applications, as well as maintaining its relationships with world-class partners such as Princeton University (Princeton), the University of Southern California (USC), the University of Michigan (Michigan) and PPG Industries, Inc. (PPG Industries). The Company currently owns, exclusively licenses or has the sole right to sublicense more than 4,700 patents issued and pending worldwide.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company sells its proprietary OLED materials to customers for evaluation and use in commercial OLED products. The Company also enters into agreements with manufacturers of OLED display and lighting products under which it grants them licenses to practice under its patents and to use the Company's proprietary know-how. At the same time, the Company works with these and other companies who are evaluating the Company's OLED technologies and materials for possible use in commercial OLED display and lighting products.</p></div> | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Management’s Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with U.S. 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. The estimates made are principally in the areas of revenue recognition including estimates of material unit sales and royalties, the useful life of acquired intangibles, the use and recoverability of inventories, intangibles and income taxes including realization of deferred tax assets, stock-based compensation and retirement benefit plan liabilities. Actual results could differ from those estimates.</p></div> | ||
| CY2018Q2 | oled |
Number Of Patents Issued And Pending Application
NumberOfPatentsIssuedAndPendingApplication
|
4700 | |
| oled |
License Agreement Extended Option Term
LicenseAgreementExtendedOptionTerm
|
P2Y | ||
| oled |
License Fee Agreement Term Of Agreement
LicenseFeeAgreementTermOfAgreement
|
P5Y | ||
| CY2018Q2 | us-gaap |
Taxes Other
TaxesOther
|
23000 | |
| us-gaap |
Taxes Other
TaxesOther
|
29000 | ||
| CY2017Q2 | us-gaap |
Taxes Other
TaxesOther
|
151000 | |
| us-gaap |
Taxes Other
TaxesOther
|
207000 | ||
| us-gaap |
Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
|
Recognized income tax positions are measured at the largest amount of which the likelihood of realization is greater than 50%. | ||
| CY2018Q2 | oled |
Investments Amortized Cost Basis
InvestmentsAmortizedCostBasis
|
378739000 | |
| CY2017Q4 | oled |
Investments Amortized Cost Basis
InvestmentsAmortizedCostBasis
|
320563000 | |
| CY2018Q2 | oled |
Investments Gross Unrealized Gains
InvestmentsGrossUnrealizedGains
|
2000 | |
| CY2017Q4 | oled |
Investments Gross Unrealized Gains
InvestmentsGrossUnrealizedGains
|
1000 | |
| CY2018Q2 | oled |
Investments Gross Unrealized Losses
InvestmentsGrossUnrealizedLosses
|
174000 | |
| CY2017Q4 | oled |
Investments Gross Unrealized Losses
InvestmentsGrossUnrealizedLosses
|
392000 | |
| CY2018Q2 | us-gaap |
Investments
Investments
|
378567000 | |
| CY2017Q4 | us-gaap |
Investments
Investments
|
320172000 | |
| us-gaap |
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
|
0 | ||
| CY2017 | us-gaap |
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
|
0 | |
| CY2018Q2 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
20208000 | |
| CY2017Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
17464000 | |
| CY2018Q2 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
5203000 | |
| CY2017Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
2977000 | |
| CY2018Q2 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
30632000 | |
| CY2017Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
15824000 | |
| CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
222841000 | |
| CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
20600000 | |
| CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
20500000 | |
| CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
20500000 | |
| CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
20500000 | |
| CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
15800000 | |
| CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
33600000 | |
| CY2018Q2 | oled |
Long Term Purchase Commitment Percent Of Services Payable In Cash Or Shares
LongTermPurchaseCommitmentPercentOfServicesPayableInCashOrShares
|
0.50 | |
| CY2017Q2 | us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
0 | |
| us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
0 | ||
| us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
0 | ||
| CY2018Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | |
| CY2018Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | |
| us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
Each share of the Company’s common stock entitles the holder to one vote on all matters to be voted upon by the shareholders. | ||
| us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
3774 | ||
| CY2018Q2 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
0 | |
| us-gaap |
Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
|
0.01 | ||
| CY2018Q2 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.06 | |
| us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.12 | ||
| CY2018Q2 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
2800000 | |
| us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
5700000 | ||
| us-gaap |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
|
115000 | ||
| oled |
Other Comprehensive Gain Loss Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveGainLossAdjustmentBeforeReclassificationAdjustmentsNetOfTax
|
-1662000 | ||
| us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
-642000 | ||
| CY2018Q2 | us-gaap |
Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
|
21300000 | |
| CY2017Q4 | us-gaap |
Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
|
14200000 | |
| CY2018Q2 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
62348000 | |
| CY2017Q4 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
56450000 | |
| CY2018Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.146 | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.089 | ||
| CY2017Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.230 | |
| CY2018Q2 | us-gaap |
Other Assets
OtherAssets
|
60395000 | |
| CY2018Q2 | us-gaap |
Deferred Revenue
DeferredRevenue
|
97591000 | |
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
28633000 | ||
| oled |
Contract Expiration Year
ContractExpirationYear
|
2022 | ||
| CY2018Q2 | oled |
Backlog Associated With Committed Purchase Orders From Customers
BacklogAssociatedWithCommittedPurchaseOrdersFromCustomers
|
15400 | |
| CY2017Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
38883000 | |
| CY2017Q4 | oled |
Cumulative Effect Of New Accounting Principle In Period Of Adoption For Deferred Revenue
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoptionForDeferredRevenue
|
-21307000 | |
| CY2017Q4 | oled |
Adjusted Balance Deferred Revenue
AdjustedBalanceDeferredRevenue
|
-60190000 | |
| us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
22669000 | ||
| oled |
Increases Due To Cash Received
IncreasesDueToCashReceived
|
64423000 | ||
| us-gaap |
Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
|
4353000 | ||
| oled |
Net Increase Decrease In Deferred Revenue
NetIncreaseDecreaseInDeferredRevenue
|
-37401000 | ||
| CY2017Q4 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
70000 | |
| CY2017Q4 | oled |
Cumulative Effect Of New Accounting Principle In Period Of Adoption For Unbilled Receivables
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoptionForUnbilledReceivables
|
307000 | |
| CY2017Q4 | oled |
Adjusted Balance Unbilled Receivables
AdjustedBalanceUnbilledReceivables
|
377000 | |
| us-gaap |
Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
|
2241000 | ||
| oled |
Unbilled Receivables Increase Decrease Net
UnbilledReceivablesIncreaseDecreaseNet
|
2241000 | ||
| CY2018Q2 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
2618000 | |
| CY2018Q2 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
122000 | |
| CY2017Q2 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
727000 | |
| us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
217000 | ||
| us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
972000 | ||
| CY2018Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
10692000 | |
| CY2017Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
46460000 | |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
16556000 | ||
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
56580000 | ||
| CY2018Q2 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
709 | |
| CY2017Q2 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
1450 | |
| us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
1237 | ||
| us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
2324 | ||
| CY2018Q2 | us-gaap |
Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
|
31390 | |
| CY2017Q2 | us-gaap |
Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
|
66042 | |
| us-gaap |
Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
|
45558 | ||
| us-gaap |
Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
|
76420 | ||
| CY2018Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7513 | |
| CY2017Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3541 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 |
