$OLED
UNIVERSAL DISPLAY CORP \PA\

2017 Q4 Form 10-K Financial Statement

#000156459019003665 Filed on February 21, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $115.9M $61.68M $102.5M
YoY Change 55.37% 104.15% 59.2%
Cost Of Revenue $20.30M $13.47M $14.30M
YoY Change 79.65% 84.45% 151.58%
Gross Profit $95.50M $48.22M $91.20M
YoY Change 50.87% 110.56% 55.35%
Gross Profit Margin 82.42% 78.17% 88.97%
Selling, General & Admin $17.10M $13.60M $9.839M
YoY Change 1800.0% 60.66% 27.98%
% of Gross Profit 17.91% 28.21% 10.79%
Research & Development $15.00M $11.60M $10.70M
YoY Change 33.93% 14.61% -2.73%
% of Gross Profit 15.71% 24.05% 11.73%
Depreciation & Amortization $6.800M $6.700M $6.700M
YoY Change 0.0% 1.52% 81.08%
% of Gross Profit 7.12% 13.9% 7.35%
Operating Expenses $37.70M $32.43M $30.68M
YoY Change 32.28% 74.5% 24.31%
Operating Profit $57.80M $15.79M $60.52M
YoY Change 66.09% 265.76% 77.87%
Interest Expense $1.000M $900.0K $800.0K
YoY Change 100.0% 17900.0% 9900.0%
% of Operating Profit 1.73% 5.7% 1.32%
Other Income/Expense, Net $0.00 $0.00 $802.0K
YoY Change -100.0% -100.0% -168.2%
Pretax Income $58.80M $16.66M $61.32M
YoY Change 66.1% -766.28% 86.68%
Income Tax $14.50M $3.137M $14.13M
% Of Pretax Income 24.66% 18.83% 23.05%
Net Earnings $32.81M $13.52M $47.19M
YoY Change 27.09% -1001.33% 116.43%
Net Earnings / Revenue 28.32% 21.92% 46.03%
Basic Earnings Per Share $0.70 $0.28 $0.99
Diluted Earnings Per Share $0.69 $0.28 $0.99
COMMON SHARES
Basic Shares Outstanding 46.80M 46.74M
Diluted Shares Outstanding 46.87M 46.81M

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $420.3M $365.4M $365.6M
YoY Change 28.14% 27.81% 15.62%
Cash & Equivalents $132.8M $69.15M $109.4M
Short-Term Investments $287.4M $296.3M $256.1M
Other Short-Term Assets $10.28M $9.200M $7.200M
YoY Change 60.76% -47.73% -54.14%
Inventory $36.27M $32.70M $24.40M
Prepaid Expenses
Receivables $52.36M $43.30M $39.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $519.2M $450.7M $436.9M
YoY Change 34.72% 31.78% 19.27%
LONG-TERM ASSETS
Property, Plant & Equipment $56.45M $49.40M $38.70M
YoY Change 107.51% 91.47% 71.24%
Goodwill $15.54M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $14.80M $14.80M $14.80M
YoY Change -1.33% -2.63% -6.33%
Other Assets $604.0K $45.00M $44.40M
YoY Change 96.74% 251.56% 8076.8%
Total Long-Term Assets $260.8M $276.5M $270.7M
YoY Change 7.67% 13.88% 26.67%
TOTAL ASSETS
Total Short-Term Assets $519.2M $450.7M $436.9M
Total Long-Term Assets $260.8M $276.5M $270.7M
Total Assets $780.0M $727.2M $707.6M
YoY Change 24.28% 24.35% 22.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.77M $13.80M $17.80M
YoY Change 69.8% 150.91% 179.52%
Accrued Expenses $35.02M $20.70M $12.40M
YoY Change 76.46% 56.82% 15.88%
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 $63.82M $46.30M $41.42M
YoY Change 58.74% 51.31% 49.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $57.10M $57.90M $58.40M
YoY Change -3.06% -0.69% 0.0%
Total Long-Term Liabilities $57.10M $57.90M $58.40M
YoY Change -3.06% -0.69% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $63.82M $46.30M $41.42M
Total Long-Term Liabilities $57.10M $57.90M $58.40M
Total Liabilities $120.9M $104.2M $99.82M
YoY Change 22.01% 17.21% 15.96%
SHAREHOLDERS EQUITY
Retained Earnings $99.13M $55.62M
YoY Change -487.86% -211.51%
Common Stock $485.0K $484.0K
YoY Change 0.41% 0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $40.16M $40.16M
YoY Change 0.0% 0.0%
Treasury Stock Shares $1.358M
Shareholders Equity $659.1M $623.0M $607.8M
YoY Change
Total Liabilities & Shareholders Equity $780.0M $727.2M $707.6M
YoY Change 24.28% 24.35% 22.01%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $32.81M $13.52M $47.19M
YoY Change 27.09% -1001.33% 116.43%
Depreciation, Depletion And Amortization $6.800M $6.700M $6.700M
YoY Change 0.0% 1.52% 81.08%
Cash From Operating Activities $62.10M $14.70M $55.00M
YoY Change 55.25% 258.54% 52.78%
INVESTING ACTIVITIES
Capital Expenditures -$6.600M -$13.50M -$9.100M
YoY Change 127.59% 513.64% -90.69%
Acquisitions
YoY Change
Other Investing Activities $9.400M -$39.30M -$26.40M
YoY Change -78.39% 124.57% -209.09%
Cash From Investing Activities $2.900M -$52.90M -$35.50M
YoY Change -92.86% 168.53% -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 -1.300M -2.000M -6.200M
YoY Change -130.23% -2100.0% 138.46%
NET CHANGE
Cash From Operating Activities 62.10M 14.70M 55.00M
Cash From Investing Activities 2.900M -52.90M -35.50M
Cash From Financing Activities -1.300M -2.000M -6.200M
Net Change In Cash 63.70M -40.20M 13.30M
YoY Change -24.97% 159.35% -133.17%
FREE CASH FLOW
Cash From Operating Activities $62.10M $14.70M $55.00M
Capital Expenditures -$6.600M -$13.50M -$9.100M
Free Cash Flow $68.70M $28.20M $64.10M
YoY Change 60.14% 347.62% -52.06%

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<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-top:12pt;margin-bottom: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-top:12pt;margin-bottom: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.&#160;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.&#160;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.&#160;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.&#160;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;&#160;and (2) develop new OLED materials and sell existing and any new materials to those product manufacturers.&#160;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). The Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 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.&#160;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.&#160;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>
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<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&#8217;s Use of Estimates</p> <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;">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. 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>
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500
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
500
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.04
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.04
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
10.04
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
10.04
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
146000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
507000
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.002
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.000
CY2016 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.0350
CY2017 oled Shares Tendered To Net Share Settle Exercise Of Options
SharesTenderedToNetShareSettleExerciseOfOptions
0
CY2016 oled Shares Tendered To Net Share Settle Exercise Of Options
SharesTenderedToNetShareSettleExerciseOfOptions
0
CY2018 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.90
CY2018 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.03
CY2017 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0341
CY2016 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0357
CY2018 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.0350
CY2017 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease
0.0350
CY2018 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1200000
CY2017 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
601000
CY2016 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
459000
CY2017Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
33176000
CY2018 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1301000
CY2017 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1214000
CY2018 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1047000
CY2017 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1013000
CY2018 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
-8531000
CY2017 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
-2952000
CY2017 us-gaap Defined Benefit Plan Plan Amendments
DefinedBenefitPlanPlanAmendments
434000
CY2018Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
44055000
CY2018Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
-44055000
CY2017Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
-33176000
CY2018Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0382
CY2017Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0322
CY2018Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease
0.0350
CY2017Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease
0.0350
CY2018 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.0322
CY2018Q4 us-gaap Defined Benefit Plan Expected Amortization Of Prior Service Cost Credit Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationOfPriorServiceCostCreditNextFiscalYear
1595000
CY2018Q4 us-gaap Defined Benefit Plan Expected Amortization Of Gain Loss Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationOfGainLossNextFiscalYear
-1642000
CY2018Q4 us-gaap Defined Benefit Plan Expected Amortization Next Fiscal Year
DefinedBenefitPlanExpectedAmortizationNextFiscalYear
3237000
CY2018Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
3551000
CY2018Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
3640000
CY2018Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
4122000
CY2018Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
4427000
CY2018Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
25977000
CY2018Q4 oled Defined Benefit Plans Expected Future Benefit Payments After Five Fiscal Years Thereafter
DefinedBenefitPlansExpectedFutureBenefitPaymentsAfterFiveFiscalYearsThereafter
23647000
CY2018Q4 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
15900000
CY2017Q4 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
14200000
CY2016Q4 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
5000000
CY2018Q4 us-gaap Contractual Obligation
ContractualObligation
10900000
CY2017Q4 us-gaap Contractual Obligation
ContractualObligation
10900000
CY2016Q4 us-gaap Contractual Obligation
ContractualObligation
10900000
CY2018Q4 us-gaap Noncurrent Assets
NoncurrentAssets
69739000
CY2017Q4 us-gaap Noncurrent Assets
NoncurrentAssets
56450000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
13565000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
100260000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
69595000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
50746000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
49277000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-997000
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
9097000
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
5817000
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
4485000
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
511000
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
54000
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
47000
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
8677000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.008
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
15406000
CY2016 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
12902000
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
18285000
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
21277000
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
17434000
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-12622000
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
24425000
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
2683000
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.005
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.047
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.071
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-611000
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
23000
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
503000
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
419000
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-73000
CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-92000
CY2018 oled Deferred Income Tax Expense Benefit Before Changein Valuation Allowance
DeferredIncomeTaxExpenseBenefitBeforeChangeinValuationAllowance
-12814000
CY2017 oled Deferred Income Tax Expense Benefit Before Changein Valuation Allowance
DeferredIncomeTaxExpenseBenefitBeforeChangeinValuationAllowance
24375000
CY2016 oled Deferred Income Tax Expense Benefit Before Changein Valuation Allowance
DeferredIncomeTaxExpenseBenefitBeforeChangeinValuationAllowance
3094000
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.009
CY2018 oled Effective Income Tax Rate Reconciliation Change In Accruals And Reserves Percent
EffectiveIncomeTaxRateReconciliationChangeInAccrualsAndReservesPercent
0.000
CY2017 oled Effective Income Tax Rate Reconciliation Change In Accruals And Reserves Percent
EffectiveIncomeTaxRateReconciliationChangeInAccrualsAndReservesPercent
0.001
CY2016 oled Effective Income Tax Rate Reconciliation Change In Accruals And Reserves Percent
EffectiveIncomeTaxRateReconciliationChangeInAccrualsAndReservesPercent
0.032
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.017
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.015
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.015
CY2018 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.027
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.007
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.013
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.041
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.097
CY2018 oled Effective Income Tax Rate Reconciliation Deduction Share Based Compensation Cost Percent
EffectiveIncomeTaxRateReconciliationDeductionShareBasedCompensationCostPercent
-0.027
CY2017 oled Effective Income Tax Rate Reconciliation Deduction Share Based Compensation Cost Percent
EffectiveIncomeTaxRateReconciliationDeductionShareBasedCompensationCostPercent
-0.019
CY2016 oled Effective Income Tax Rate Reconciliation Deduction Share Based Compensation Cost Percent
EffectiveIncomeTaxRateReconciliationDeductionShareBasedCompensationCostPercent
0.000
CY2018 oled Effective Income Tax Rate Reconciliation Us Tax Cuts And Jobs Act
EffectiveIncomeTaxRateReconciliationUSTaxCutsAndJobsAct
-0.035
CY2017 oled Effective Income Tax Rate Reconciliation Us Tax Cuts And Jobs Act
EffectiveIncomeTaxRateReconciliationUSTaxCutsAndJobsAct
0.077
CY2016 oled Effective Income Tax Rate Reconciliation Us Tax Cuts And Jobs Act
EffectiveIncomeTaxRateReconciliationUSTaxCutsAndJobsAct
0.000
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.012
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.002
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.085
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.305
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.299
CY2018Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
2893000
CY2018Q4 oled Deferred Tax Assets Capitalized Technology License
DeferredTaxAssetsCapitalizedTechnologyLicense
553000
CY2017Q4 oled Deferred Tax Assets Capitalized Technology License
DeferredTaxAssetsCapitalizedTechnologyLicense
804000
CY2018Q4 oled Deferred Tax Assets Capitalized Research Expenditures
DeferredTaxAssetsCapitalizedResearchExpenditures
4710000
CY2017Q4 oled Deferred Tax Assets Capitalized Research Expenditures
DeferredTaxAssetsCapitalizedResearchExpenditures
3719000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
2890000
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
962000
CY2018Q4 oled Deferred Tax Assets Retirement Plan
DeferredTaxAssetsRetirementPlan
9570000
CY2017Q4 oled Deferred Tax Assets Retirement Plan
DeferredTaxAssetsRetirementPlan
7125000
CY2018Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
12028000
CY2017Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
206000
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
2895000
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
21562000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1701000
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1819000
CY2018Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
47000
CY2017Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
59000
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
34394000
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
36256000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2893000
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2460000
CY2018Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
31501000
CY2017Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
33796000
CY2018Q4 us-gaap Deferred Tax Liabilities Deferred Expense Reserves And Accruals
DeferredTaxLiabilitiesDeferredExpenseReservesAndAccruals
7124000
CY2017Q4 us-gaap Deferred Tax Liabilities Deferred Expense Reserves And Accruals
DeferredTaxLiabilitiesDeferredExpenseReservesAndAccruals
6774000
CY2017Q4 oled Adjusted Balance Deferred Revenue
AdjustedBalanceDeferredRevenue
-60190000
CY2018 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
64562000
CY2018 oled Increases Due To Cash Received
IncreasesDueToCashReceived
130639000
CY2018 us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
3700000
CY2018 oled Net Increase Decrease In Deferred Revenue
NetIncreaseDecreaseInDeferredRevenue
-62377000
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
CY2018 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
2024000
CY2018 oled Transferred To Receivables From Unbilled Receivables
TransferredToReceivablesFromUnbilledReceivables
1381000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
7124000
CY2017Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
6774000
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
24377000
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
27022000
CY2018Q4 oled Withholding And Interest For Licensing And Royalty Payments
WithholdingAndInterestForLicensingAndRoyaltyPayments
13200000
CY2018 oled Unbilled Receivables Increase Decrease Net
UnbilledReceivablesIncreaseDecreaseNet
643000
CY2018Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1020000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
48070000
CY2018 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
690000
CY2017 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1638000
CY2015 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
734000
CY2018Q4 oled Withholding And Interest For Licencing And Royalty Payments Period
WithholdingAndInterestForLicencingAndRoyaltyPaymentsPeriod
P3Y
CY2018 oled State And Foreign Income Tax Returns Subject To Examination Period Minimum
StateAndForeignIncomeTaxReturnsSubjectToExaminationPeriodMinimum
P3Y
CY2018 oled State And Foreign Income Tax Returns Subject To Examination Period Maximum
StateAndForeignIncomeTaxReturnsSubjectToExaminationPeriodMaximum
P4Y
CY2018Q4 us-gaap Other Assets
OtherAssets
70892000
CY2018Q4 us-gaap Deferred Revenue
DeferredRevenue
122567000
CY2018 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
59062000
CY2018 oled Contract Expiration Year
ContractExpirationYear
2022
CY2018Q4 oled Backlog Associated With Committed Purchase Orders From Customers
BacklogAssociatedWithCommittedPurchaseOrdersFromCustomers
13100000
CY2017Q4 us-gaap Deferred Revenue
DeferredRevenue
38883000
CY2017Q4 oled Cumulative Effect Of New Accounting Principle In Period Of Adoption For Deferred Revenue
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoptionForDeferredRevenue
-21307000
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
58150000
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
102247000
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
47336000
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46408460
CY2018 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1956
CY2017 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
2611
CY2015 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
5398
CY2018 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
45222
CY2017 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
77294
CY2015 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
122122
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46535980
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.02
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.02
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4414
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2981
CY2018Q1 us-gaap Revenues
Revenues
43572000
CY2018Q2 us-gaap Revenues
Revenues
56149000
CY2018Q3 us-gaap Revenues
Revenues
77550000
CY2018Q4 us-gaap Revenues
Revenues
70143000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
5959000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
10814000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
22818000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
19249000
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.48
CY2018Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
CY2018Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2017Q1 us-gaap Revenues
Revenues
55566000
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
32813000
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.99
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2017Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.70
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.99
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2017Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
CY2017Q4 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
11500000
CY2017Q2 us-gaap Revenues
Revenues
102513000
CY2017Q3 us-gaap Revenues
Revenues
61683000
CY2017Q4 us-gaap Revenues
Revenues
115867000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
10365000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
47187000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
13520000

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