UNIVERSAL DISPLAY CORP PA

For the period ended Dec 31, 2023. Filed Feb 22, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 22, 2024

OLED$90.38+0.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Income

(in thousands, except share and per share data)

	Year Ended December 31,
	2023	2022	2021
REVENUE:
Material sales	$322,029	$331,081	$318,623
Royalty and license fees	238,389	267,115	219,032
Contract research services	16,011	18,423	15,870
Total revenue	576,429	616,619	553,525
COST OF SALES	135,376	127,896	114,991
Gross margin	441,053	488,723	438,534
OPERATING EXPENSES:
Research and development	130,481	117,062	99,673
Selling, general and administrative	67,387	77,886	80,372
Amortization of acquired technology and other intangible assets	15,993	17,459	21,994
Patent costs	9,356	8,329	8,160
Royalty and license expense	647	877	691
Total operating expenses	223,864	221,613	210,890
OPERATING INCOME	217,189	267,110	227,644
Interest income, net	28,166	7,811	505
Other (loss) income, net	(184)	(6,691)	98
Interest and other income, net	27,982	1,120	603
INCOME BEFORE INCOME TAXES	245,171	268,230	228,247
INCOME TAX EXPENSE	(42,160)	(58,169)	(44,034)
NET INCOME	$203,011	$210,061	$184,213
NET INCOME PER COMMON SHARE:
BASIC	$4.25	$4.41	$3.87
DILUTED	$4.24	$4.40	$3.87
WEIGHTED AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE:
BASIC	47,559,669	47,390,352	47,296,447
DILUTED	47,622,763	47,468,507	47,365,435
CASH DIVIDEND DECLARED PER COMMON SHARE	$1.40	$1.20	$0.80

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.