Universal Display
The 10-second takeaway
For the quarter ended March 31 (Q1), Universal Display whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP loss per share dropped.
Margins increased across the board.
Revenue details
Universal Display tallied revenue of $12.6 million. The 10 analysts polled by S&P Capital IQ foresaw a top line of $16.3 million on the same basis. GAAP reported sales were 31% higher than the prior-year quarter's $9.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at -$0.03. The seven earnings estimates compiled by S&P Capital IQ predicted $0.01 per share. GAAP EPS were -$0.03 for Q1 against -$0.31 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 21.8%, 1,010 basis points better than the prior-year quarter. Operating margin was -12.3%, 1,630 basis points better than the prior-year quarter. Net margin was -9.7%, 11,410 basis points better than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $28.5 million. On the bottom line, the average EPS estimate is $0.25.
Next year's average estimate for revenue is $102.3 million. The average EPS estimate is $0.75.
Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,136 members rating the stock outperform and 72 members rating it underperform. Among 326 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 302 give Universal Display a green thumbs-up, and 24 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Universal Display is outperform, with an average price target of $52.88.
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