EWING, N.J. (AP) — EWING, N.J. (AP) — Universal Display Corp. (OLED) on Thursday reported fourth-quarter profit of $46 million.
The Ewing, New Jersey-based company said it had profit of 96 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to $1.22 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.
The organic light-emitting diode technology company posted revenue of $162.3 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $148.7 million.
For the year, the company reported profit of $222.1 million, or $4.65 per share. Revenue was reported as $647.7 million.
Universal Display expects full-year revenue in the range of $640 million to $700 million.
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