$OLED
UNIVERSAL DISPLAY CORP \PA\

2019 Q2 Form 10-Q Financial Statement

#000156459019027935 Filed on August 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $118.2M $56.15M $43.57M
YoY Change 110.45% -45.23% -21.59%
Cost Of Revenue $24.07M $13.20M $7.458M
YoY Change 82.36% -7.69% -42.57%
Gross Profit $94.10M $44.51M $36.11M
YoY Change 111.39% -51.19% -15.18%
Gross Profit Margin 79.63% 79.28% 82.88%
Selling, General & Admin $17.70M $11.56M $10.79M
YoY Change 53.09% 17.51% 7.09%
% of Gross Profit 18.81% 25.97% 29.88%
Research & Development $18.83M $12.90M $12.36M
YoY Change 45.99% 20.56% 4.56%
% of Gross Profit 20.01% 28.98% 34.22%
Depreciation & Amortization $3.000M $2.200M $2.172M
YoY Change 36.36% -67.16% 79.5%
% of Gross Profit 3.19% 4.94% 6.01%
Operating Expenses $45.43M $11.56M $31.60M
YoY Change 292.94% -62.32% 3.52%
Operating Profit $48.66M $32.95M $4.519M
YoY Change 47.68% -45.55% -62.52%
Interest Expense $2.800M $1.800M $1.300M
YoY Change 55.56% 125.0% 85.71%
% of Operating Profit 5.75% 5.46% 28.77%
Other Income/Expense, Net $3.162M -$12.00K $1.224M
YoY Change -26450.0% -101.5% 87.73%
Pretax Income $51.83M $12.70M $5.743M
YoY Change 308.08% -79.29% -54.82%
Income Tax $8.400M $1.900M -$216.0K
% Of Pretax Income 16.21% 14.96% -3.76%
Net Earnings $43.44M $10.81M $5.959M
YoY Change 301.7% -77.08% -42.51%
Net Earnings / Revenue 36.76% 19.26% 13.68%
Basic Earnings Per Share $0.92 $0.23 $0.13
Diluted Earnings Per Share $0.92 $0.23 $0.13
COMMON SHARES
Basic Shares Outstanding 46.97M 46.87M 46.78M
Diluted Shares Outstanding 47.00M 46.90M 46.85M

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $552.7M $457.4M $457.3M
YoY Change 20.84% 25.11% 40.71%
Cash & Equivalents $324.3M $103.8M $177.2M
Short-Term Investments $458.0M $353.7M $280.1M
Other Short-Term Assets $8.900M $20.30M $14.30M
YoY Change -56.16% 181.94% 146.57%
Inventory $60.14M $56.00M $53.64M
Prepaid Expenses
Receivables $66.95M $35.60M $22.77M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $688.7M $569.4M $548.0M
YoY Change 20.95% 30.33% 42.81%
LONG-TERM ASSETS
Property, Plant & Equipment $83.60M $62.30M $58.43M
YoY Change 34.18% 60.98% 104.29%
Goodwill $15.54M
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.000M $0.00
YoY Change -100.0%
Other Assets $79.22M $50.60M $2.391M
YoY Change 56.56% 13.96% -95.22%
Total Long-Term Assets $322.4M $263.8M $247.2M
YoY Change 22.21% -2.55% -9.03%
TOTAL ASSETS
Total Short-Term Assets $688.7M $569.4M $548.0M
Total Long-Term Assets $322.4M $263.8M $247.2M
Total Assets $1.011B $833.2M $795.1M
YoY Change 21.35% 17.75% 21.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.744M $7.900M $10.43M
YoY Change -1.97% -55.62% -6.0%
Accrued Expenses $35.74M $24.40M $29.03M
YoY Change 46.49% 96.77% 190.33%
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 $139.7M $101.5M $99.23M
YoY Change 37.67% 145.04% 198.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $30.28M $18.33M $53.30M
YoY Change 65.17% -68.61% -6.65%
Total Long-Term Liabilities $30.28M $18.33M $53.30M
YoY Change 65.17% -68.61% -6.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $139.7M $101.5M $99.23M
Total Long-Term Liabilities $30.28M $18.33M $53.30M
Total Liabilities $260.0M $182.6M $152.5M
YoY Change 42.41% 82.92% 68.87%
SHAREHOLDERS EQUITY
Retained Earnings $195.0M $84.36M
YoY Change
Common Stock $488.0K $486.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $41.28M $40.64M
YoY Change
Treasury Stock Shares $1.366M $1.362M $1.362M
Shareholders Equity $751.0M $650.7M $642.6M
YoY Change
Total Liabilities & Shareholders Equity $1.011B $833.2M $795.1M
YoY Change 21.35% 17.74% 21.32%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $43.44M $10.81M $5.959M
YoY Change 301.7% -77.08% -42.51%
Depreciation, Depletion And Amortization $3.000M $2.200M $2.172M
YoY Change 36.36% -67.16% 79.5%
Cash From Operating Activities $49.80M $11.20M $38.82M
YoY Change 344.64% -79.64% 2261.01%
INVESTING ACTIVITIES
Capital Expenditures -$7.000M -$4.700M $8.733M
YoY Change 48.94% -48.35% 1283.99%
Acquisitions
YoY Change
Other Investing Activities $69.60M -$72.10M $23.20M
YoY Change -196.53% 173.11% -158.73%
Cash From Investing Activities $62.60M -$76.70M $14.44M
YoY Change -181.62% 116.06% -135.99%
FINANCING ACTIVITIES
Cash Dividend Paid $2.831M
YoY Change 100.21%
Common Stock Issuance & Retirement, Net $276.0K
YoY Change 73.58%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.20M -7.800M -8.939M
YoY Change 69.23% 25.81% 87.32%
NET CHANGE
Cash From Operating Activities 49.80M 11.20M 38.82M
Cash From Investing Activities 62.60M -76.70M 14.44M
Cash From Financing Activities -13.20M -7.800M -8.939M
Net Change In Cash 99.20M -73.30M 44.31M
YoY Change -235.33% -651.13% -202.46%
FREE CASH FLOW
Cash From Operating Activities $49.80M $11.20M $38.82M
Capital Expenditures -$7.000M -$4.700M $8.733M
Free Cash Flow $56.80M $15.90M $30.08M
YoY Change 257.23% -75.2% 2869.6%

Facts In Submission

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us-gaap Nature Of Operations
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<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <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;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</span></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;"><span style="font-weight:normal;"/><span style="font-size:10pt;">BUSINESS:</span></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 applications, 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 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. 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>
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-29063000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
211022000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
132840000
CY2019Q2 oled Minority Investment Carrying Value
MinorityInvestmentCarryingValue
5000000.0
us-gaap Use Of Estimates
UseOfEstimates
<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;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. 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, investments, lease liabilities, right-of use assets 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>
oled License Fee Agreement Term Of Agreement
LicenseFeeAgreementTermOfAgreement
P5Y
CY2019Q2 us-gaap Taxes Other
TaxesOther
17000
us-gaap Taxes Other
TaxesOther
55000
CY2018Q2 us-gaap Taxes Other
TaxesOther
23000
us-gaap Taxes Other
TaxesOther
29000
CY2019Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
228326000
CY2019Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
108000
CY2019Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
228434000
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
304380000
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
6000
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
63000
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
304323000
CY2019Q2 oled Number Of Minority Investments
NumberOfMinorityInvestments
1
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%.
CY2019Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
324242000
CY2019Q2 oled Cash Equivalents Gross Unrealized Gain
CashEquivalentsGrossUnrealizedGain
35000
CY2019Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
324277000
CY2018Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
211013000
CY2018Q4 oled Cash Equivalents Gross Unrealized Gain
CashEquivalentsGrossUnrealizedGain
9000
CY2018Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
211022000
us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2018 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2019Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
31700000
CY2018Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
31203000
CY2019Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
5709000
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
781000
CY2019Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
22729000
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
38016000
CY2019Q2 us-gaap Inventory Net
InventoryNet
60138000
CY2018Q4 us-gaap Inventory Net
InventoryNet
70000000
CY2018Q2 us-gaap Inventory Write Down
InventoryWriteDown
183000
us-gaap Inventory Write Down
InventoryWriteDown
4200000
us-gaap Inventory Write Down
InventoryWriteDown
183000
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
134337000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
114682000
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
50742000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
44943000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
83595000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
69739000
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company used the incremental borrowing rate on January 1, 2019 for operating leases that commenced prior to that date. Current lease agreements do not contain any residual value guarantees or material restrictive covenants. As of June 30, 2019, the Company did not have any finance leases and had one operating lease that had not yet commenced, related to the expansion of office space in New York City for UDC Ventures LLC.
oled Number Of Leasee Operating Lease
NumberOfLeaseeOperatingLease
1
CY2019Q2 us-gaap Depreciation
Depreciation
3000000.0
CY2018Q2 us-gaap Depreciation
Depreciation
2200000
us-gaap Depreciation
Depreciation
5800000
us-gaap Depreciation
Depreciation
4400000
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
223242000
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
122179000
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
101063000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
20600000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
20600000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
20600000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
15800000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
9700000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
24100000
us-gaap Operating Lease Cost
OperatingLeaseCost
860000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8273000
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7600000
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1300000
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6300000
CY2018 us-gaap Operating Lease Cost
OperatingLeaseCost
1700000
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
826000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1513000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
833000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
833000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
833000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4687000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
9525000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1891000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
7634000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1652000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1512000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
833000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
833000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
833000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
4721000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
10384000
CY2019Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.10
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-844000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1013000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
649000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
477000
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2019Q2 oled Long Term Purchase Commitment Percent Of Services Payable In Cash Or Shares
LongTermPurchaseCommitmentPercentOfServicesPayableInCashOrShares
0.50
CY2019Q2 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
CY2018Q2 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
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.
CY2019Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
48831512
CY2019Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47465864
CY2019Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2018Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4011
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3774
CY2019Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4700000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.20
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9400000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
160000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1269000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1429000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
169000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1300000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-844000
CY2019Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
14300000
CY2018Q4 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
15900000
CY2019Q2 us-gaap Revenues
Revenues
118168000
CY2018Q2 us-gaap Revenues
Revenues
56149000
CY2019Q2 us-gaap Noncurrent Assets
NoncurrentAssets
83595000
CY2018Q4 us-gaap Noncurrent Assets
NoncurrentAssets
69739000
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.162
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.146
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.161
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8400000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1900000
CY2018Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
709
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
994
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1237
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46930165
CY2019Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
495
CY2019Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
66952000
CY2019Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
82472000
CY2019Q2 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
44651000
oled Contract Expiration Year
ContractExpirationYear
2022
CY2019Q2 oled Backlog Associated With Committed Purchase Orders From Customers
BacklogAssociatedWithCommittedPurchaseOrdersFromCustomers
9000000.0
CY2018Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1020000
CY2018Q4 us-gaap Deferred Revenue
DeferredRevenue
122567000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
63337000
oled Increases Due To Cash Received
IncreasesDueToCashReceived
68213000
us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
320000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
1064000
oled Transferred To Receivables From Unbilled Receivables
TransferredToReceivablesFromUnbilledReceivables
779000
oled Unbilled Receivables Increase Decrease Net
UnbilledReceivablesIncreaseDecreaseNet
285000
oled Net Increase Decrease In Deferred Revenue
NetIncreaseDecreaseInDeferredRevenue
-4556000
CY2019Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1305000
CY2019Q2 us-gaap Deferred Revenue
DeferredRevenue
127123000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
43440000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
10814000
us-gaap Net Income Loss
NetIncomeLoss
74914000
CY2019Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
321000
CY2018Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
122000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
663000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
43119000
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10692000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
74251000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46967005
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46868999
CY2019Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
29202
CY2018Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
31390
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
35013
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46996702
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46901098
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46966172
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.92
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.58
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.92
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.58
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7513
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0

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