$OLED
UNIVERSAL DISPLAY CORP \PA\

2021 Q2 Form 10-Q Financial Statement

#000156459021041568 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $129.7M $57.97M $112.3M
YoY Change 123.68% -50.94% 27.93%
Cost Of Revenue $27.97M $14.30M $22.46M
YoY Change 95.59% -40.59% 42.02%
Gross Profit $101.7M $43.70M $89.82M
YoY Change 132.7% -53.56% 24.83%
Gross Profit Margin 78.43% 75.39% 80.0%
Selling, General & Admin $20.24M $16.15M $17.00M
YoY Change 25.34% -8.77% 42.03%
% of Gross Profit 19.9% 36.95% 18.93%
Research & Development $24.10M $21.40M $19.50M
YoY Change 12.62% 13.63% 23.19%
% of Gross Profit 23.7% 48.97% 21.71%
Depreciation & Amortization $4.900M $3.800M $3.615M
YoY Change 28.95% 26.67% 20.5%
% of Gross Profit 4.82% 8.7% 4.02%
Operating Expenses $51.80M $46.51M $45.31M
YoY Change 11.36% 2.37% 20.54%
Operating Profit $49.90M -$1.185M $44.51M
YoY Change -4310.63% -102.44% 29.53%
Interest Expense $75.00K $1.300M $2.100M
YoY Change -94.23% -53.57% -25.0%
% of Operating Profit 0.15% 4.72%
Other Income/Expense, Net $296.0K $1.438M $200.0K
YoY Change -79.42% -54.52% -93.58%
Pretax Income $50.19M $253.0K $46.90M
YoY Change 19738.74% -99.51% 25.16%
Income Tax $9.700M -$562.0K $8.700M
% Of Pretax Income 19.33% -222.13% 18.55%
Net Earnings $40.54M $815.0K $38.16M
YoY Change 4874.36% -98.12% 21.23%
Net Earnings / Revenue 31.27% 1.41% 33.98%
Basic Earnings Per Share $0.85 $0.02 $0.80
Diluted Earnings Per Share $0.85 $0.02 $0.80
COMMON SHARES
Basic Shares Outstanding 47.30M 47.23M 47.09M
Diluted Shares Outstanding 47.36M 47.24M 47.12M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $733.5M $644.0M $639.8M
YoY Change 13.89% 16.52% 21.5%
Cash & Equivalents $542.9M $133.6M $222.7M
Short-Term Investments $190.5M $510.5M $417.0M
Other Short-Term Assets $55.16M $33.10M $15.60M
YoY Change 66.63% 271.91% 188.89%
Inventory $104.7M $84.52M $74.10M
Prepaid Expenses
Receivables $99.63M $68.50M $82.59M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $992.9M $830.2M $812.1M
YoY Change 19.6% 20.55% 24.52%
LONG-TERM ASSETS
Property, Plant & Equipment $113.2M $92.00M $96.40M
YoY Change 23.03% 10.06% 8.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $8.500M $5.000M $5.000M
YoY Change 70.0% 0.0%
Other Assets $133.6M $119.0M $110.1M
YoY Change 12.29% 50.21% 19.03%
Total Long-Term Assets $357.8M $330.9M $324.3M
YoY Change 8.14% 2.64% 2.63%
TOTAL ASSETS
Total Short-Term Assets $992.9M $830.2M $812.1M
Total Long-Term Assets $357.8M $330.9M $324.3M
Total Assets $1.351B $1.161B $1.136B
YoY Change 16.33% 14.84% 17.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.33M $10.20M $10.40M
YoY Change 1.31% 31.71% 48.57%
Accrued Expenses $29.25M $32.30M $23.00M
YoY Change -9.44% -9.64% -20.14%
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 $162.6M $162.7M $136.6M
YoY Change -0.08% 16.43% 3.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $196.5M $158.6M $153.1M
YoY Change 23.92% 423.73% 349.34%
Total Long-Term Liabilities $196.5M $158.6M $153.1M
YoY Change 23.92% 423.73% 349.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $162.6M $162.7M $136.6M
Total Long-Term Liabilities $196.5M $158.6M $153.1M
Total Liabilities $359.1M $321.3M $289.7M
YoY Change 11.76% 23.55% 14.96%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $991.6M $839.8M $846.7M
YoY Change
Total Liabilities & Shareholders Equity $1.351B $1.161B $1.136B
YoY Change 16.33% 14.84% 17.37%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $40.54M $815.0K $38.16M
YoY Change 4874.36% -98.12% 21.23%
Depreciation, Depletion And Amortization $4.900M $3.800M $3.615M
YoY Change 28.95% 26.67% 20.5%
Cash From Operating Activities $29.62M $26.30M $5.746M
YoY Change 12.61% -47.19% -83.12%
INVESTING ACTIVITIES
Capital Expenditures -$10.86M -$7.000M $4.782M
YoY Change 55.17% 0.0% -64.0%
Acquisitions
YoY Change
Other Investing Activities -$189.8M -$93.30M $101.8M
YoY Change 103.38% -234.05% 2113.04%
Cash From Investing Activities -$200.5M -$100.3M $97.03M
YoY Change 99.91% -260.22% -1165.63%
FINANCING ACTIVITIES
Cash Dividend Paid $7.098M
YoY Change 50.48%
Common Stock Issuance & Retirement, Net $259.0K
YoY Change -41.8%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.40M -15.10M -11.66M
YoY Change -17.87% 14.39% 6.74%
NET CHANGE
Cash From Operating Activities 29.62M 26.30M 5.746M
Cash From Investing Activities -200.5M -100.3M 97.03M
Cash From Financing Activities -12.40M -15.10M -11.66M
Net Change In Cash -183.3M -89.10M 91.12M
YoY Change 105.72% -189.82% 549.63%
FREE CASH FLOW
Cash From Operating Activities $29.62M $26.30M $5.746M
Capital Expenditures -$10.86M -$7.000M $4.782M
Free Cash Flow $40.48M $33.30M $964.0K
YoY Change 21.56% -41.37% -95.36%

Facts In Submission

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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
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us-gaap Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
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us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
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us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
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IncreaseDecreaseInOtherCurrentLiabilities
-2536000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
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us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
32030000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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PaymentsToAcquireIntangibleAssets
394000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Payments To Acquire Short Term Investments
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ProceedsFromSaleOfShortTermInvestments
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us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
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us-gaap Net Cash Provided By Used In Investing Activities
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-115013000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3301000
us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Of Dividends
PaymentsOfDividends
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-31201000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-35000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
1242000
oled Other Significant Non Cash Transaction Increase Decrease In Accounts Payable And Accrued Expenses Related To Purchases Of Property And Equipment
OtherSignificantNonCashTransactionIncreaseDecreaseInAccountsPayableAndAccruedExpensesRelatedToPurchasesOfPropertyAndEquipment
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OtherSignificantNonCashTransactionIncreaseDecreaseInAccountsPayableAndAccruedExpensesRelatedToPurchasesOfPropertyAndEquipment
390000
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 and its subsidiaries (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, especially in the mobile phone, television, wearable, tablet, notebook and personal computer, augmented reality (AR), virtual reality (VR) and automotive markets. 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, intellectual property position, and the Company’s more than 20 years of experience working closely with leading OLED display manufacturers are some of the competitive advantages that should enable the Company to continue to share in the revenues from OLED displays and lighting products as they gain wider acceptance.</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) develop new OLED materials and sell existing and any new materials to product manufacturers of products for display applications, such as mobile phones, televisions, wearables, tablets, portable media devices, notebook computers, personal computers and automotive applications, and specialty and general lighting products; and (2) further develop and license the Company’s proprietary OLED technologies to those 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 long-standing, and establishing new relationships with world-class universities, research institutions and strategic manufacturing partnerships. 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 manufactures and 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 the Company’s patents and to use the Company's proprietary know-how. At the same time, the Company works with these and other companies that are evaluating the Company's OLED technologies and materials for possible use in commercial OLED display and lighting products.</p>
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>
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%.
CY2021Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
542918000
CY2021Q2 oled Cash Equivalents Gross Unrealized Losses
CashEquivalentsGrossUnrealizedLosses
4000
CY2021Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
542914000
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
630010000
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6000
CY2020Q4 oled Cash Equivalents Gross Unrealized Losses
CashEquivalentsGrossUnrealizedLosses
4000
CY2020Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
630012000
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
190509000
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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41000
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
10000
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
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CY2020Q4 us-gaap Available For Sale Securities Debt Securities
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CY2021Q2 oled Number Of Minority Investments
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2
CY2021Q2 oled Minority Investment Carrying Value
MinorityInvestmentCarryingValue
8000000.0
CY2021Q2 oled Number Of Convertible Note Investments
NumberOfConvertibleNoteInvestments
1
CY2021Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
0
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2020Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
0
CY2021Q2 us-gaap Inventory Net
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104653000
CY2020Q4 us-gaap Inventory Net
InventoryNet
91591000
CY2021Q2 us-gaap Inventory Write Down
InventoryWriteDown
450000
CY2020Q2 us-gaap Inventory Write Down
InventoryWriteDown
0
us-gaap Inventory Write Down
InventoryWriteDown
1100000
CY2021Q2 us-gaap Property Plant And Equipment Gross
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194908000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
113187000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2021Q2 us-gaap Depreciation
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4900000
CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2020Q2 us-gaap Depreciation
Depreciation
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CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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163343000
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
59960000
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
Current lease agreements do not contain any residual value guarantees or material restrictive covenants. As of June 30, 2021, the Company did not have any finance leases and had one operating lease that had not yet commenced, related to expansion of the Adesis research facilities in Wilmington, Delaware.
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
757000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1072000
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LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1128000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2578000
CY2021Q2 oled Long Term Purchase Commitment Percent Of Services Payable In Cash Or Shares
LongTermPurchaseCommitmentPercentOfServicesPayableInCashOrShares
0.50
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DebtConversionConvertedInstrumentSharesIssued1
0
CY2021Q2 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
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CY2021Q2 us-gaap Common Stock Shares Authorized
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CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2306000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2121000
CY2021Q2 oled Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
8146000
CY2021Q2 us-gaap Common Stock Shares Outstanding
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us-gaap Treasury Stock Shares Acquired
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0
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2021Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.20
CY2021Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
9500000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.40
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CommonStockDividendsPerShareCashPaid
0.40
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19000000.0
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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938000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-2300000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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-1300000
CY2021Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
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24600000
CY2020Q4 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
13700000
CY2021Q2 us-gaap Revenues
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129660000
CY2020Q2 us-gaap Revenues
Revenues
57968000
us-gaap Revenues
Revenues
263660000
us-gaap Revenues
Revenues
170245000
CY2021Q2 us-gaap Noncurrent Assets
NoncurrentAssets
113187000
CY2020Q4 us-gaap Noncurrent Assets
NoncurrentAssets
102113000
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.192
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-2.221
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.191
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.173
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9700000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-562000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21700000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8100000
CY2018Q4 oled Withholding And Interest For Licensing And Royalty Payments
WithholdingAndInterestForLicensingAndRoyaltyPayments
13200000
oled State And Foreign Income Tax Returns Subject To Examination Period Maximum
StateAndForeignIncomeTaxReturnsSubjectToExaminationPeriodMaximum
P4Y
CY2021Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
99629000
CY2021Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
122978000
CY2021Q2 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
46174000
CY2021Q2 oled Backlog Associated With Committed Purchase Orders From Customers
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27200000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47160163
CY2021Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
204
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
602000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
318000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
40294000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
809000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
91626000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
38652000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47299627
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47227294
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47284773
CY2019Q4 us-gaap Unbilled Contracts Receivable
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1362000
CY2019Q4 us-gaap Deferred Revenue
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144862000
us-gaap Contract With Customer Liability Revenue Recognized
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48249000
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75683000
us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
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829000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
9566000
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UnbilledReceivablesIncreaseDecreaseNet
9566000
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-26605000
CY2020Q2 us-gaap Unbilled Contracts Receivable
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10928000
CY2020Q2 us-gaap Deferred Revenue
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171467000
CY2021Q2 us-gaap Net Income Loss
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40541000
CY2020Q2 us-gaap Net Income Loss
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815000
us-gaap Net Income Loss
NetIncomeLoss
92228000
us-gaap Net Income Loss
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38970000
CY2021Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
247000
CY2020Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
6000
CY2020Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
483
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
369
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
924
CY2021Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
57033
CY2020Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
16214
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
62454
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
29418
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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47356864
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47243991
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47347596
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47190505
CY2021Q2 us-gaap Earnings Per Share Basic
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0.85
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.94
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.82
CY2021Q2 us-gaap Earnings Per Share Diluted
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0.85
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
us-gaap Earnings Per Share Diluted
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1.94
us-gaap Earnings Per Share Diluted
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CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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52933
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30785

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