2019 Q3 Form 10-Q Financial Statement
#000156459019038766 Filed on October 30, 2019
Income Statement
| Concept | 2019 Q3 | 2018 Q3 |
|---|---|---|
| Revenue | $97.52M | $77.55M |
| YoY Change | 25.74% | 25.72% |
| Cost Of Revenue | $17.29M | $16.12M |
| YoY Change | 7.21% | 19.74% |
| Gross Profit | $80.23M | $61.43M |
| YoY Change | 30.61% | 27.39% |
| Gross Profit Margin | 82.27% | 79.21% |
| Selling, General & Admin | $14.30M | $12.12M |
| YoY Change | 17.99% | -10.88% |
| % of Gross Profit | 17.82% | 19.73% |
| Research & Development | $16.80M | $13.62M |
| YoY Change | 23.38% | 17.42% |
| % of Gross Profit | 20.94% | 22.17% |
| Depreciation & Amortization | $3.200M | $1.700M |
| YoY Change | 88.24% | -74.63% |
| % of Gross Profit | 3.99% | 2.77% |
| Operating Expenses | $39.40M | $35.40M |
| YoY Change | 11.31% | 9.15% |
| Operating Profit | $40.83M | $26.03M |
| YoY Change | 56.85% | 64.86% |
| Interest Expense | $2.700M | $2.100M |
| YoY Change | 28.57% | 133.33% |
| % of Operating Profit | 6.61% | 8.07% |
| Other Income/Expense, Net | $2.801M | $0.00 |
| YoY Change | ||
| Pretax Income | $43.60M | $28.10M |
| YoY Change | 55.16% | 68.7% |
| Income Tax | $6.700M | $5.325M |
| % Of Pretax Income | 15.37% | 18.95% |
| Net Earnings | $36.96M | $22.82M |
| YoY Change | 61.99% | 68.77% |
| Net Earnings / Revenue | 37.9% | 29.42% |
| Basic Earnings Per Share | $0.78 | $0.48 |
| Diluted Earnings Per Share | $0.78 | $0.48 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 46.98M | 46.87M |
| Diluted Shares Outstanding | 47.01M | 46.91M |
Balance Sheet
| Concept | 2019 Q3 | 2018 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $597.1M | $493.6M |
| YoY Change | 20.97% | 35.08% |
| Cash & Equivalents | $235.5M | $101.6M |
| Short-Term Investments | $513.3M | $392.0M |
| Other Short-Term Assets | $10.40M | $11.94M |
| YoY Change | -12.92% | 29.82% |
| Inventory | $57.77M | $69.03M |
| Prepaid Expenses | ||
| Receivables | $65.77M | $43.21M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $731.0M | $617.8M |
| YoY Change | 18.32% | 37.07% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $86.27M | $67.47M |
| YoY Change | 27.86% | 36.57% |
| Goodwill | $15.54M | |
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $5.000M | |
| YoY Change | ||
| Other Assets | $107.6M | $39.15M |
| YoY Change | 174.83% | -13.0% |
| Total Long-Term Assets | $331.6M | $266.0M |
| YoY Change | 24.68% | -3.81% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $731.0M | $617.8M |
| Total Long-Term Assets | $331.6M | $266.0M |
| Total Assets | $1.063B | $883.7M |
| YoY Change | 20.24% | 21.53% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $9.200M | $13.33M |
| YoY Change | -30.98% | -3.41% |
| Accrued Expenses | $37.10M | $31.79M |
| YoY Change | 16.7% | 53.57% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $148.4M | $114.3M |
| YoY Change | 29.86% | 146.82% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $127.6M | $18.34M |
| YoY Change | 595.86% | -68.33% |
| Total Long-Term Liabilities | $127.6M | $18.34M |
| YoY Change | 595.86% | -68.33% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $148.4M | $114.3M |
| Total Long-Term Liabilities | $127.6M | $18.34M |
| Total Liabilities | $276.0M | $208.2M |
| YoY Change | 32.54% | 99.84% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $112.3M | |
| YoY Change | ||
| Common Stock | $487.0K | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | $40.64M | |
| YoY Change | ||
| Treasury Stock Shares | $1.362M | |
| Shareholders Equity | $786.6M | $675.5M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.063B | $883.7M |
| YoY Change | 20.24% | 21.53% |
Cashflow Statement
| Concept | 2019 Q3 | 2018 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $36.96M | $22.82M |
| YoY Change | 61.99% | 68.77% |
| Depreciation, Depletion And Amortization | $3.200M | $1.700M |
| YoY Change | 88.24% | -74.63% |
| Cash From Operating Activities | $53.80M | $45.00M |
| YoY Change | 19.56% | 206.12% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$5.000M | -$7.500M |
| YoY Change | -33.33% | -44.44% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$131.7M | -$36.40M |
| YoY Change | 261.81% | -7.38% |
| Cash From Investing Activities | -$136.7M | -$43.90M |
| YoY Change | 211.39% | -17.01% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -6.000M | -3.200M |
| YoY Change | 87.5% | 60.0% |
| NET CHANGE | ||
| Cash From Operating Activities | 53.80M | 45.00M |
| Cash From Investing Activities | -136.7M | -43.90M |
| Cash From Financing Activities | -6.000M | -3.200M |
| Net Change In Cash | -88.90M | -2.100M |
| YoY Change | 4133.33% | -94.78% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $53.80M | $45.00M |
| Capital Expenditures | -$5.000M | -$7.500M |
| Free Cash Flow | $58.80M | $52.50M |
| YoY Change | 12.0% | 86.17% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2019Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P7Y6M | |
| CY2019Q3 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
3533000 | |
| CY2019Q3 | oled |
Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Value
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|
242000 | |
| CY2019Q3 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
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|
271000 | |
| CY2019Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
786567000 | |
| CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
690506000 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
111876000 | ||
| us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
2115000 | ||
| us-gaap |
Dividends Cash
DividendsCash
|
14142000 | ||
| us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
10490000 | ||
| us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
15920000 | ||
| us-gaap |
Treasury Stock Value Acquired Cost Method
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|
649000 | ||
| CY2018Q2 | us-gaap |
Shares Outstanding
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|
48650696 | |
| CY2018Q3 | us-gaap |
Stock Issued During Period Shares Share Based Compensation
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|
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| CY2018Q3 | us-gaap |
Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
|
6339 | |
| CY2018Q3 | oled |
Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Shares
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|
6250 | |
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Stock Issued During Period Shares Employee Stock Purchase Plans
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|
2459 | |
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Shares Outstanding
SharesOutstanding
|
48672538 | |
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Net Income Loss
NetIncomeLoss
|
111876000 | ||
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Shares Outstanding
SharesOutstanding
|
48476034 | |
| CY2017Q4 | us-gaap |
Cumulative Effect Of New Accounting Principle In Period Of Adoption
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-17894000 | |
| CY2017Q4 | oled |
Adjusted Shares Outstanding
AdjustedSharesOutstanding
|
48476034 | |
| CY2017Q4 | oled |
Adjusted Balance Stockholder Equity
AdjustedBalanceStockholderEquity
|
641160000 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
39591000 | ||
| us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
1470000 | ||
| us-gaap |
Dividends Cash
DividendsCash
|
8486000 | ||
| us-gaap |
Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
|
270451 | ||
| us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
9457000 | ||
| us-gaap |
Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
|
107920 | ||
| us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
11598000 | ||
| us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
477000 | ||
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Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Shares
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|
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Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Value
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|
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StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
7991 | ||
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|
856000 | ||
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|
48672538 | |
| CY2018Q3 | us-gaap |
Stockholders Equity
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|
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Net Income Loss
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|
39591000 | ||
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|
101079000 | ||
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Contract With Customer Liability Amortization Of Deferred Revenue And Recognition Of Unbilled Receivables
ContractWithCustomerLiabilityAmortizationOfDeferredRevenueAndRecognitionOfUnbilledReceivables
|
52325000 | ||
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Depreciation
Depreciation
|
8958000 | ||
| us-gaap |
Depreciation
Depreciation
|
6094000 | ||
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Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
16469000 | ||
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Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
16479000 | ||
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Inventory Write Down
InventoryWriteDown
|
4155000 | ||
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Inventory Write Down
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|
1045000 | ||
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Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
-4528000 | ||
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Amortization Of Debt Discount Premium
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|
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Share Based Compensation
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|
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Increase Decrease In Finished Goods And Work In Process Inventories
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IncreaseDecreaseInOtherCurrentAssets
|
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IncreaseDecreaseInOtherCurrentAssets
|
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IncreaseDecreaseInOtherNoncurrentAssets
|
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IncreaseDecreaseInOtherNoncurrentAssets
|
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Increase Decrease In Accounts Payable And Accrued Liabilities
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|
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Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
439000 | ||
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Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
5587000 | ||
| us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-34000 | ||
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Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
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Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
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IncreaseDecreaseInOtherNoncurrentLiabilities
|
149000 | ||
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Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
18337000 | ||
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Net Cash Provided By Used In Operating Activities
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|
137746000 | ||
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|
649000 | ||
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Net Cash Provided By Used In Operating Activities
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|
94956000 | ||
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Payments To Acquire Property Plant And Equipment
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|
25317000 | ||
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Payments To Acquire Property Plant And Equipment
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|
20925000 | ||
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Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
401000 | ||
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Payments To Acquire Short Term Investments
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|
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Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
500985000 | ||
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ProceedsFromSaleOfShortTermInvestments
|
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|
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|
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Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-106213000 | ||
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Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
658000 | ||
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Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
616000 | ||
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Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
477000 | ||
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Payments Related To Tax Withholding For Share Based Compensation
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|
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Payments Related To Tax Withholding For Share Based Compensation
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|
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|
14142000 | ||
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Payments Of Dividends
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|
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|
-30053000 | ||
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Net Cash Provided By Used In Financing Activities
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|
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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|
24519000 | ||
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-31202000 | ||
| CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
211022000 | |
| CY2017Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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|
132840000 | |
| CY2019Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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|
235541000 | |
| CY2018Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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|
101638000 | |
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Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
|
227000 | ||
| us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
|
274000 | ||
| oled |
Other Significant Non Cash Transaction Increase Decrease In Accounts Payable And Accrued Expenses Related To Purchases Of Property And Equipment
OtherSignificantNonCashTransactionIncreaseDecreaseInAccountsPayableAndAccruedExpensesRelatedToPurchasesOfPropertyAndEquipment
|
-168000 | ||
| oled |
Other Significant Non Cash Transaction Increase Decrease In Accounts Payable And Accrued Expenses Related To Purchases Of Property And Equipment
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|
3814000 | ||
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<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> | ||
| CY2019Q3 | oled |
Number Of Patents Issued And Pending Application
NumberOfPatentsIssuedAndPendingApplication
|
5000 | |
| CY2019Q3 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
361515000 | |
| CY2018Q4 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
211022000 | |
| CY2019Q3 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
235514000 | |
| CY2019Q3 | oled |
Cash Equivalents Gross Unrealized Gain
CashEquivalentsGrossUnrealizedGain
|
27000 | |
| CY2019Q3 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
235541000 | |
| CY2018Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
211013000 | |
| CY2018Q4 | oled |
Cash Equivalents Gross Unrealized Gain
CashEquivalentsGrossUnrealizedGain
|
9000 | |
| 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, lease liabilities, right-of-use assets, the use and recoverability of inventories, intangibles, investments 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> | ||
| CY2019Q3 | us-gaap |
Taxes Other
TaxesOther
|
65000 | |
| us-gaap |
Taxes Other
TaxesOther
|
120000 | ||
| CY2018Q3 | us-gaap |
Taxes Other
TaxesOther
|
35000 | |
| CY2019Q3 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
361364000 | |
| CY2019Q3 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
151000 | |
| 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%. | ||
| CY2018Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
304380000 | |
| 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 | |
| CY2019Q3 | oled |
Number Of Minority Investments
NumberOfMinorityInvestments
|
1 | |
| CY2019Q3 | oled |
Minority Investment Carrying Value
MinorityInvestmentCarryingValue
|
5000000.0 | |
| us-gaap |
Impairment Of Investments
ImpairmentOfInvestments
|
0 | ||
| CY2018 | us-gaap |
Impairment Of Investments
ImpairmentOfInvestments
|
0 | |
| CY2019Q3 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
27454000 | |
| CY2018Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
31203000 | |
| CY2019Q3 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
7036000 | |
| CY2018Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
781000 | |
| CY2019Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
23281000 | |
| CY2018Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
38016000 | |
| CY2019Q3 | us-gaap |
Inventory Net
InventoryNet
|
57771000 | |
| CY2018Q4 | us-gaap |
Inventory Net
InventoryNet
|
70000000 | |
| CY2019Q3 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
0 | |
| CY2018Q3 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
1000000.0 | |
| us-gaap |
Inventory Write Down
InventoryWriteDown
|
4200000 | ||
| CY2019Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
140166000 | |
| CY2018Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
114682000 | |
| CY2019Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
53900000 | |
| CY2018Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
44943000 | |
| CY2019Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
86266000 | |
| CY2018Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
69739000 | |
| CY2019Q3 | us-gaap |
Depreciation
Depreciation
|
3200000 | |
| CY2018Q3 | us-gaap |
Depreciation
Depreciation
|
1700000 | |
| us-gaap |
Depreciation
Depreciation
|
9000000.0 | ||
| CY2019Q3 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
223242000 | |
| CY2019Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
127323000 | |
| CY2019Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
95919000 | |
| CY2019Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
5100000 | |
| CY2019Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
20600000 | |
| CY2019Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
20600000 | |
| CY2019Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
15800000 | |
| CY2019Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
9700000 | |
| CY2019Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
24100000 | |
| CY2019Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
8788000 | |
| 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 September 30, 2019, the Company did not have any finance leases and no additional operating leases that have not yet commenced. | ||
| CY2019Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
456000 | |
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1316000 | ||
| CY2019Q3 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
1503000 | |
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
9776000 | ||
| CY2019Q3 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
8800000 | |
| CY2019Q3 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1700000 | |
| CY2019Q3 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
7100000 | |
| CY2018 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1700000 | |
| CY2019Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.055 | |
| CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
517000 | |
| CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
1932000 | |
| CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
1252000 | |
| CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
1183000 | |
| CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
1044000 | |
| CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
4829000 | |
| CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
10757000 | |
| CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
1969000 | |
| CY2019Q3 | us-gaap |
Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
1652000 | |
| CY2019Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
1512000 | |
| CY2019Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
833000 | |
| CY2019Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
833000 | |
| CY2019Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
833000 | |
| CY2019Q3 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
4721000 | |
| CY2019Q3 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
10384000 | |
| CY2019Q3 | oled |
Long Term Purchase Commitment Percent Of Services Payable In Cash Or Shares
LongTermPurchaseCommitmentPercentOfServicesPayableInCashOrShares
|
0.50 | |
| CY2019Q3 | us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
0 | |
| us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
0 | ||
| CY2018Q3 | us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
0 | |
| CY2019Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | |
| CY2019Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2019Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | |
| CY2019Q3 | 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. | ||
| CY2019Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
48847733 | |
| CY2019Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
47482085 | |
| CY2019Q3 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
0 | |
| CY2018Q4 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
69739000 | |
| CY2018Q3 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
0 | |
| us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
4011 | ||
| us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
649000 | ||
| us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
477000 | ||
| CY2019Q3 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.10 | |
| CY2019Q3 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.10 | |
| CY2019Q3 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
4700000 | |
| us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.30 | ||
| us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.30 | ||
| us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
14100000 | ||
| us-gaap |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
|
212000 | ||
| us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
-1903000 | ||
| us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
2115000 | ||
| us-gaap |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
|
204000 | ||
| us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
-1266000 | ||
| us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
1470000 | ||
| us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
-1900000 | ||
| us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
-1300000 | ||
| CY2019Q3 | us-gaap |
Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
|
23600000 | |
| CY2018Q4 | us-gaap |
Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
|
15900000 | |
| us-gaap |
Revenues
Revenues
|
303448000 | ||
| us-gaap |
Revenues
Revenues
|
177271000 | ||
| CY2019Q3 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
86266000 | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.158 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.150 | ||
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
21100000 | ||
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
7000000.0 | ||
| CY2019Q3 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
1900000 | |
| CY2019Q3 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
7366000 | |
| CY2019Q3 | us-gaap |
Deferred Revenue
DeferredRevenue
|
141683000 | |
| CY2018Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
22818000 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
111876000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
39591000 | ||
| CY2019Q3 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
65774000 | |
| CY2019Q3 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
91188000 | |
| CY2019Q3 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
50495000 | |
| oled |
Contract Expiration Year
ContractExpirationYear
|
2022 | ||
| CY2019Q3 | oled |
Backlog Associated With Committed Purchase Orders From Customers
BacklogAssociatedWithCommittedPurchaseOrdersFromCustomers
|
11300000 | |
| CY2018Q4 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
1020000 | |
| CY2018Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
122567000 | |
| us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
94044000 | ||
| oled |
Increases Due To Cash Received
IncreasesDueToCashReceived
|
113849000 | ||
| us-gaap |
Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
|
689000 | ||
| us-gaap |
Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
|
7571000 | ||
| oled |
Transferred To Receivables From Unbilled Receivables
TransferredToReceivablesFromUnbilledReceivables
|
1225000 | ||
| oled |
Unbilled Receivables Increase Decrease Net
UnbilledReceivablesIncreaseDecreaseNet
|
6346000 | ||
| oled |
Net Increase Decrease In Deferred Revenue
NetIncreaseDecreaseInDeferredRevenue
|
-19116000 | ||
| CY2018Q3 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
242000 | |
| us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
922000 | ||
| us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
481000 | ||
| CY2018Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
22576000 | |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
110954000 | ||
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
39110000 | ||
| CY2018Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
46869998 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
46947109 | ||
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
46841036 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4143 | ||
| CY2018Q3 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
754 | |
| us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
1142 | ||
| us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
1682 | ||
| CY2018Q3 | us-gaap |
Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
|
43801 | |
| us-gaap |
Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
|
35650 | ||
| us-gaap |
Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
|
51050 | ||
| CY2018Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
46914553 | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
46983901 | ||
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
46893768 | ||
| CY2018Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.48 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.36 | ||
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.83 | ||
| CY2018Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.48 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.36 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.83 | ||
| CY2018Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
5464 | |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 |
