Universal Display Corporation (PANL: Quote) reported second-quarter net income of $11.0 million or $0.23 per share, up from the net income of $3.3 million or loss per share of $0.03 in the comparable quarter last year.
On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.24 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the latest quarter more than doubled to $30.0 million from $11.3 million last year. Twelve analysts expected revenues of $28.98 million for the quarter.
Looking ahead, the company said that it believes revenues will be in the range of $90 million to $110 million for fiscal 2012. For the fiscal 2012, analysts expect revenues of $101.09 million.
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by RTT Staff Writer
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