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Universal Display Corp. (PANL) Is Heading Higher After Q4 Report

Universal Display Corp. (PANL: Quote) reported fourth quarter net income of $0.12 per share after the close Wednesday, which was flat with the previous year result. The consensus estimate was for EPS of $0.13. Fourth quarter revenues increased 51% to $28.1 million from $18.7 million a year ago. The consensus estimate was for revenues of $26.44 million.

The company forecast revenues of $110 million to $125 million for fiscal 2013. Analyst currently expect the company to post revenue of $122.51 million. The stock is now up 1.10 on 16K shares.

Universal Display declined during the first half of the morning Wednesday and closed down by 0.50 at $27.90. The stock has been losing ground since the beginning of the trading week.

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by RTT Staff Writer

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