Universal Display’s Irish Arm Reports Heavy Losses

News Source: 

U.S. OLED manufacturer Universal Display Corporation’s office in Ireland reported a US $21 million loss in 2015 on revenue of US $98.2 million, reported Irish media Independent recently.

UDC is a US $2.4 billion publicly-listed company that invests heavily in the R&D, marketing and selling of OLED lighting products and components.

The company acquired US $87 million to acquire OLED intellectual property of German industrial giant BASF, and used its Irish subsidiary to seal the deal this June.

The Irish business latest accounting reports indicate losses last year escalated compared to the US$ 1 million loss back in 2014.

The company’s revenue was generated from the sale of "non-hazardous chemical materials and licensing", the accounts note.

Nearly all of the ocmpany’s revenue of US $98.2 million in 2015 was from sales in East Asia.

The latest financial results showed UDC’s R&D spending in 2015 amounted was up to US $36.2 million in total, compared to US $34.1 million a year before. The company’s Irish arm comprises seven staff members, including two in sales, and paid in total US $1 million in salaries last year.

UDC parent company in U.S. is expected to release its third quarter earnings this week.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

TSLC Corporation, a subsidiary of SemiLEDs, launched sampling of its tri-color Mini LED series, targeted to provide LED display manufacturers with surface-mounting (SMT) compatible devices. The first product in the tri-color multi pixel series... READ MORE

The German chemistry giant BASF has revealed its development of dark automotive paint colors that are reflective to LiDAR for enhancing the detecting function of autonomous cars. LiDAR plays a critical role to the development of autonomous veh... READ MORE