NJ TECH CORNER:UNIVERSAL DISPLAY CORPORATION

Company Overview

Universal Display Corporation (NASDAQ: OLED) is a Ewing-based provider of organic light emitting diode (OLED) technologies and materials for use in displays in solid-state lighting applications, which are used in the mobile phone, television, augmented and virtual reality and automotive markets. The company has one of the largest patent portfolios in the OLED field with licensing rights to over 5,000 issued and pending patents worldwide in a broad array of OLED technologies, materials and processes. The company has subsidiaries in Ireland, Korea, Japan, China and Hong Kong and an office in Taiwan. Founded in 1994, the company has 265 employees, as of Dec. 31, 2018. Universal Display was named ranked 60th in Fortune’s list of 100 fastest-growing companies in 2018.

Investment & Financial Information

Shares of common stock outstanding (as of April 5, 2019): 47,160,940
Share price of stock (April 26, 2019) $168.18
Share price of stock (April 26, 2018) $90.55
Current valuation (market cap as of April 26, 2019) $7.93 billion
Valuation one year ago (market cap as of as of April 26, 2018) $4.268 billion
Stock Symbol: OLED
Revenue (12 months ended Dec. 31, 2018)   $247.4 million
Revenue (12 months ended Dec. 31, 2017)   $335.6 million
Net Income  (12 months ended Dec. 31, 2018 )     $58.8 million
Net Income  (12 months ended Dec. 31, 2017)     $103.9 million

Management Team

Name Age Title
Sherwin I. Seligsohn 83 Founder, Chairman of the Board
Steven V. Abramson 67 President, CEO
Sidney D. Rosenblatt 71 Executive Vice President, CFO, Treasurer
Julia J. Brown 57 Senior Vice President, Chief Technology Officer
Mauro Premutico 53 Vice President, Legal and General Manager, Patents and Licensing

Board of Directors

Name Age Title
 Sherwin I. Seligsohn 83 Chairman of the Board; Director and President, American Biomimetics Corp., International Multi-Media Corp., and Wireless Unified Network Systems Corp.
 Steven V. Abramson 67 President, CEO
 Sidney D. Rosenblatt  71 Executive Vice President, CFO, Treasurer, Secretary;; Board of Managers, Overlook School for the Blind;
 Richard C. Elias 65 Former Senior Vice President, PPG Industries;
 Elizabeth H. Gemmill 73 Board Member, Beneficial Bancorp Inc. and Arden Theatre Co.; Chairman of the Board, The Presbyterian Foundation; Board Leadership Fellow, National Association of Corporate Directors 
 Rosemarie B. Greco* 73 Former founding Principal, GRECOventures Ltd.;   Director, PECO Energy Company; Member, Board of Overseers, University of Pennsylvania School of Nursing; Executive Advisor, Vision 2020
C. Keith Hartley 76 President, Hartley Capital Advisors, Director, Swisher International Group Inc.
Lawrence Lacerte 66 Chairman of the Board, CEO, Exponent Technologies

*Ms. Greco will not seek reelection to the board of directors following the completion of her term.

Noteworthy Control (as of April 5, 2019)

Name Shares of common stock owned % of total common shares
    PRIMECAP Management Company     4,715,819   10.0%
    The Vanguard Group     3,889,779   8.2%
    BlackRock, Inc.     3,754,887   8.0%
    Scott Seligsohn, Lori S. Rubenstein, Steven G. Winters     34,079,226   6.5%
    Waddell & Reed     2,794,458   5.9%

[Information for NJ Tech Corner was taken from the company’s SEC filings and other company sources, with the exception of the company’s valuation.]

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