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Light shining in darkness for LED supplier

Surprise profits

LED supplier Universal Display has been doing rather well, despite the downturn in the economy.

The company expects full-year results near the high-end of its previous forecast thanks to higher license fees and more orders from flat panel display makers such as Samsung Display. Universal Display said that it expects full-year revenue from its license agreement with Samsung Display to reach $40 million.

The outfit’s OLED screens currently feature in Samsung's flagship Galaxy smartphones, recognised $20 million in revenue from Samsung in the second quarter, boosting license fees by more than a third to $21.2 million. The company narrowed its full-year revenue forecast to the upper end of its previous forecast of $110 million to $125 million.

Analysts only expected the company to make $118.8 million.

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