Financial Data and Key Metrics Changes - Revenue for Q2 2024 was 159million,anincreaseof8147 million in Q2 2023 [12] - Operating profit was 56million,withanetincomeof52 million or 1.10perdilutedshare,comparedto50 million or 1.04perdilutedshareinthesameperiodlastyear[4][14]−Thecompanyraisedthelowendofitsannualrevenueguidancefor2024toarangeof645 million to 675million[4][14]BusinessLineDataandKeyMetricsChanges−TotalmaterialsalesinQ22024were95 million, up from 77millioninQ22023[12]−Greenemittersaleswere71.6 million, compared to 57.9millionintheprioryear,whileredemittersalesincreasedto22.5 million from 16.7million[12]−RoyaltyandlicensefeesforQ22024were60 million, down from 64millioninthepreviousyear[12]MarketDataandKeyMetricsChanges−OLEDtabletpanelshipmentsareexpectedtotripleyear−over−yearto14.8millionunits,whileOLEDnotebookpanelshipmentsareforecastedtoalmostdoubleto8millionunitsin2024[5]−OLEDsmartphoneshipmentssurpassedLCDshipmentsforthefirsttime,capturing51879 million in cash, cash equivalents, and investments [14] - A quarterly dividend of 0.40 was approved, reflecting the company's commitment to return capital to shareholders [14] Q&A Session Summary Question: Update on blue phosphorescent development - Management acknowledged the need for more time to achieve commercial entry specifications for blue phosphorescent materials, with 1.3 million in sales for Q2 [18][19] Question: Competitive dynamics in China - Management stated that there are no competitive materials from China that rival their state-of-the-art offerings, emphasizing strong customer relationships and long-term agreements [20][21] Question: Drivers of updated guidance - The updated guidance was attributed to greater visibility into the year’s performance, with expectations across all business lines contributing to the adjustment [23][24] Question: Differences in performance between Korean and Chinese customers - Management noted variable ordering patterns from Chinese customers, which have been inconsistent compared to the strong growth from Korean customers [33] Question: Deferred revenue increase - The increase in deferred revenue was due to achieving certain billing milestones on contracts during the quarter [39]
Universal Display(OLED)2024-08-02 00:04