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.]
