The 10-second takeaway
For the quarter ended March 31 (Q1), Universal Display beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. Non-GAAP loss per share contracted. GAAP loss per share increased.
Margins contracted across the board.
Universal Display reported revenue of $15.0 million. The 11 analysts polled by S&P Capital IQ hoped for sales of $14.5 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $12.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.01. The four earnings estimates compiled by S&P Capital IQ predicted -$0.02 per share. Non-GAAP EPS were -$0.01 for Q1 versus -$0.03 per share for the prior-year quarter. GAAP EPS were -$0.10 for Q1 versus -$0.03 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 17.6%, 420 basis points worse than the prior-year quarter. Operating margin was -47.8%, much worse than the prior-year quarter. Net margin was -31.8%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $37.6 million. On the bottom line, the average EPS estimate is $0.39.
Next year's average estimate for revenue is $117.8 million. The average EPS estimate is $0.86.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,227 members out of 1,294 rating the stock outperform, and 67 members rating it underperform. Among 310 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 293 give Universal Display a green thumbs-up, and 17 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 $31.89.
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