Company Outlines Performance Gains in Its PHOLED™ Technology and Materials with Red, Green and Light Blue Lifetimes More Than Doubling Over the Past Year
EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (NASDAQ:PANL), a key innovator behind
today and tomorrow’s displays and lighting
through its phosphorescent OLED technology, today held its 2007 Annual
Meeting of Shareholders at the Holiday Inn Philadelphia, located at 4100
Presidential Blvd., Philadelphia, PA.
“This past year has been a very exciting time
for our Company”
Shareholders were able to view several new products in the market that
use Universal Display’s proprietary
technologies, including an iriver multimedia player and a KDDI cell
phone that use Samsung SDI’s AMOLED displays.
Also on display was the 4-inch full-color AMOLED prototype built on
flexible metal foil that was jointly developed by Universal Display and
LG.Philips LCD. Other technology demonstrators included transparent and
flexible OLEDs, white OLED lighting sources and an updated “organic
garden” displaying a wide variety of the
Company’s phosphorescent OLED colors.
Following the formal portion of the meeting, Universal Display’s
President and Chief Operating Officer, Steven V. Abramson, discussed the
Company’s achievements since last year’s
meeting. Mr. Abramson also highlighted a number of new commercial
products and prototypes that use the Company’s
phosphorescent and other OLED technologies.
“This past year has been a very exciting time
for our Company,” said Mr. Abramson. “Samsung
SDI, one of our licensees, began producing AMOLED displays early this
year. In addition, we recently signed commercial supply agreements with
two other major industry players, Chi Mei EL Corporation and LG.Philips
LCD Co., Ltd.”
“We have seen dramatic improvements in the
performance of our proprietary phosphorescent OLED technology. Since
last year, we have extended the lifetimes of red, green and light blue.
Red lifetime has tripled to 350,000 hours, and green lifetime has
doubled to 250,000 hours, both at 1,000 nits,”
stated Mr. Abramson. “We have also tripled
the lifetime of our light blue, with CIE coordinates of (0.16, 0.27), to
9,000 hours at 500 nits. Our P2OLED™
solution-processable materials and technology, which are currently under
development, have also seen dramatic improvements this year, with
significant lifetime gains for all three colors.”
Mr. Abramson concluded, “As we look to the
second half of 2007, we believe that commercial AMOLED display
production will continue to increase as a number of manufacturers have
announced new product launch plans for this year. We will also continue
to work hard on advancing our PHOLED materials and technology to achieve
their full potential of lower power consumption, brighter and more vivid
viewing performance, and more creative form factors than are possible
with today’s LCDs.”
During the meeting, shareholders voted on and approved two matters
described in the Company’s most recent Proxy
Statement. These involved the re-election of seven members to the Company’s
Board of Directors for additional one-year terms and the approval of the
appointment of KPMG LLP as the Company’s
independent registered public accounting firm for 2007.
The annual meeting presentation was simultaneously broadcast over the
Internet through a webcast on the Company's website. To view an archived
webcast of the presentation, please visit the Company’s
website at http://www.universaldisplay.com/investors.htm.
To hear a taped replay of the audio portion of the presentation, please
call 973-341-3080 and use the conference PIN 8922008. The presentation
and audio replay will be available within two hours of the conclusion of
the meeting and will remain available through Thursday, July 5, 2007.
To see how Universal Display Corporation is changing the face of the
display and lighting industries, please visit the Company at http://www.universaldisplay.com.
About Universal Display Corporation
Universal Display Corporation is a world leader in developing and
commercializing innovative OLED technologies and materials for use in
flat panel displays, solid-state lighting products, electronic
communications and other opto-electronic devices. Universal Display is
working with a network of world-class organizations, including Princeton
University, the University of Southern California, the University of
Michigan, and PPG Industries, Inc. Universal Display has also
established numerous commercial relationships with companies such as Chi
Mei EL Corporation, DuPont Displays, Inc., Konica Minolta Technology
Center, Inc., LG.Philips LCD Co., Ltd., Samsung SDI Co., Seiko Epson
Corporation, Sony Corporation, Tohoku Pioneer Corporation and Toyota
Industries Corporation. Universal Display currently owns or has
exclusive, co-exclusive or sole license rights with respect to more than
800 issued and pending patents worldwide.
Universal Display is located in the Princeton Crossroads Corporate
Center in Ewing, New Jersey, minutes away from its research partner at
Princeton University. Universal Display’s
state-of-the-art facility is designed to further technology and
materials development, technology transfer to manufacturing partners and
work with customers to develop OLED products that meet their needs.
Visit Universal Display on the Web at www.universaldisplay.com.
All statements in this document that are not historical, such as
those relating to Universal Display Corporation’s
technologies and potential applications of those technologies, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. You are cautioned not to place undue
reliance on any forward-looking statements in this document, as they
reflect Universal Display Corporation’s
current views with respect to future events and are subject to risks and
uncertainties that could cause actual results to differ materially from
those contemplated. These risks and uncertainties are discussed in
greater detail in Universal Display Corporation’s
periodic reports on Form 10-K and Form 10-Q filed with the Securities
and Exchange Commission, including, in particular, the section entitled “Risk
Factors” in Universal Display Corporation’s
annual report on Form 10-K for the year ended December 31, 2006.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.
Contacts
Universal Display Corporation, Ewing
Dean Ledger, 800-599-4426
or
Gregory
FCA Communications
Investor contact:
Paul
Johnson, 610-642-8253 (x115)
paul@gregoryfca.com
or
Media
contact:
Matt McLoughlin, 610-642-8253 (x129)
matt@gregoryfca.com