Attributes 212 Percent Revenue Growth to the Continued Proliferation
of OLEDs in the Market Using the Company's Proprietary UniversalPHOLED
Technology and Materials
EWING, N.J.--(BUSINESS WIRE)--
Universal
Display Corporation (Nasdaq: OLED), enabling energy-efficient
displays and lighting with its UniversalPHOLED®
technology and materials, announced today it ranked 309th
on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing
technology, media, telecommunications, life sciences and energy tech
companies in North America. Universal Display grew 212 percent during
this period.
Universal Display’s President and Chief Executive Officer, Steven V.
Abramson, credits the growing OLED market, from consumer adoption to the
expanding product roadmap of smartphones, wearables, tablets, TVs and
solid-state lighting, with the Company’s 212 percent revenue growth.
Abramson said, “OLED technology development and commercial application
is experiencing a strong period of innovation and adoption. OEMs across
the globe are incorporating bright, beautiful and brilliant OLED
displays and lighting panels into products that span consumer
electronics, automobiles and solid-state lighting. Our inclusion in
these prestigious Deloitte rankings for the eleventh time and eighth
consecutive year is a true honor and speaks to the amazing work being
done by UDC employees and our highly valued industry partners.”
“Amid a fierce business climate, there seems to be no shortage of new
and established companies that are unlocking a seemingly unlimited
potential for growth and advancement through technology’s continued
disruption and proliferation across industries,” said Sandra Shirai,
principal, Deloitte Consulting LLP and U.S. technology, media and
telecommunications leader. “It is inspiring to witness the innovative
ways that companies are incorporating emerging technologies for business
gains, be it cognitive computing, or the Internet of Things. We
congratulate all those ranked on this year’s Fast 500 and look forward
to seeing their continued growth into 2016.”
“Through the efforts and utilization of new and emerging technologies
from these companies, we are witnessing greater business demands from
across almost all industries,” added Jim Atwell, national managing
partner of the emerging company practice, Deloitte & Touche LLP. “We
look forward to the opportunity to serve these companies as they strive
to grow to the next level – be it towards introducing new solutions or
entering new markets – and with it make important and long lasting
impressions on the technology market as a whole.”
Overall, 2015 Technology Fast 500™ companies achieved revenue growth
ranging from 109 percent to 21,984 percent from 2011 to 2014, with an
average growth of 850 percent.
About Deloitte’s 2015 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing
technology, media, telecommunications, life sciences and energy tech
companies – both public and private – in North America. Technology Fast
500 award winners are selected based on percentage fiscal year revenue
growth from 2011 to 2014.
In order to be eligible for Technology Fast 500 recognition, companies
must own proprietary intellectual property or technology that is sold to
customers in products that contribute to a majority of the company's
operating revenues. Companies must have base-year operating revenues of
at least $50,000 USD or CD, and current-year operating revenues of at
least $5 million USD or CD. Additionally, companies must be in business
for a minimum of four years and be headquartered within North America.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in developing
and delivering state-of-the-art, organic light emitting diode (OLED)
technologies, materials and services to the display and lighting
industries. Founded in 1994, the Company currently owns or has
exclusive, co-exclusive or sole license rights with respect to more than
3,500 issued and pending patents worldwide. Universal Display licenses
its proprietary technologies, including its breakthrough high-efficiency
UniversalPHOLED® phosphorescent OLED technology that can
enable the development of low power and eco-friendly displays and white
lighting. The Company also develops and offers high-quality,
state-of-the-art UniversalPHOLED materials that are recognized as key
ingredients in the fabrication of OLEDs with peak performance. In
addition, Universal Display delivers innovative and customized solutions
to its clients and partners through technology transfer, collaborative
technology development and on-site training.
Based in Ewing, New Jersey, with international offices in Ireland, South
Korea, Hong Kong, Japan and Taiwan, Universal Display works and partners
with a network of world-class organizations, including Princeton
University, the University of Southern California, the University of
Michigan, and PPG Industries, Inc. The Company has also established
relationships with companies such as AU Optronics Corporation, BOE
Technology, DuPont Displays, Inc., Innolux Corporation, Kaneka
Corporation, Konica Minolta Technology Center, Inc., LG Display Co.,
Ltd., Lumiotec, Inc., OLEDWorks LLC, Pioneer Corporation, Samsung
Display Co., Ltd., Sumitomo Chemical Company, Ltd, and Tohoku Pioneer
Corporation. To learn more about Universal Display, please visit http://www.udcoled.com.
Universal Display Corporation and the Universal Display logo are
trademarks or registered trademarks of Universal Display Corporation.
All other company, brand or product names may be trademarks or
registered trademarks.
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, the Company’s expected
results as well as the growth of the OLED market and the Company’s
opportunities in that market, are forward-looking financial 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, 2014.
Universal Display Corporation disclaims any obligation to update any
forward-looking statement contained in this document.
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Source: Universal Display Corporation