Universal Display Corporation (OLED - Free Report) reported fourth-quarter 2021 earnings of 96 cents per share, which beat the Zacks Consensus Estimate by 2.1% but decreased 15% year over year.
Fourth-quarter total revenues grew 3.3% year over year to $146.2 million, driven by solid demand for organic light-emitting diode (OLED - Free Report) products. The top line surpassed the Zacks Consensus Estimate by 3.4%. In 2021, revenues increased 29.1% year over year to $553.5 million.
Quarterly Segment Details
Material sales (58.6% of total revenues) surged 37.1% year over year to $85.8 million. Royalty and license fees (38.3%) were down 43.5% to $56 million. Contract research services (3.1%) were $4.5 million, up 13.3%.
Gross profit was $114 million, down from $114.5 million in the year-ago quarter. Operating expenses of $57.5 million climbed 18%. Universal Display reported operating income of $56.5 million, down 14.1%.
Liquidity
In 2021, the company generated $191.1 million of cash from operating activities compared with $148.8 million in 2020. As of Dec 31, 2021, it had cash and cash equivalents of $312 million and $120.9 million of current deferred revenues.
Guidance
For 2022, Universal Display expects revenues between $625 million and $650 million.
Zacks Rank & Other Stocks to Consider
Universal Display currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Vocera Communications, Inc. is another top-ranked stock in the broader Zacks Computer and Technology sector that sports a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 4.9% over the past 60 days.
Vocera Communications pulled off a trailing four-quarter earnings surprise of 115.4%, on average. The stock has returned 85.8% in the past year.
SeaChange International, Inc. (SEAC - Free Report) carries a Zacks Rank #2. The consensus estimate for current-year earnings has been revised upward by 10% over the past 60 days.
SeaChange International delivered a trailing four-quarter earnings surprise of 37.2%, on average. The stock has, however, declined 2.4% in the past year.
Qualcomm, Inc. (QCOM - Free Report) , carrying a Zacks Rank #2, is also a solid pick for investors. The consensus estimate for current-year earnings has been revised 12.2% upward over the past 60 days.
Qualcomm delivered a trailing four-quarter earnings surprise of 12.2%, on average. It has appreciated 19.2% in the past year.
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Universal Display Corporation (OLED - Free Report) reported fourth-quarter 2021 earnings of 96 cents per share, which beat the Zacks Consensus Estimate by 2.1% but decreased 15% year over year.
Fourth-quarter total revenues grew 3.3% year over year to $146.2 million, driven by solid demand for organic light-emitting diode (OLED - Free Report) products. The top line surpassed the Zacks Consensus Estimate by 3.4%. In 2021, revenues increased 29.1% year over year to $553.5 million.
Quarterly Segment Details
Material sales (58.6% of total revenues) surged 37.1% year over year to $85.8 million. Royalty and license fees (38.3%) were down 43.5% to $56 million. Contract research services (3.1%) were $4.5 million, up 13.3%.
Gross profit was $114 million, down from $114.5 million in the year-ago quarter. Operating expenses of $57.5 million climbed 18%. Universal Display reported operating income of $56.5 million, down 14.1%.
Liquidity
In 2021, the company generated $191.1 million of cash from operating activities compared with $148.8 million in 2020. As of Dec 31, 2021, it had cash and cash equivalents of $312 million and $120.9 million of current deferred revenues.
Guidance
For 2022, Universal Display expects revenues between $625 million and $650 million.
Zacks Rank & Other Stocks to Consider
Universal Display currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Vocera Communications, Inc. is another top-ranked stock in the broader Zacks Computer and Technology sector that sports a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 4.9% over the past 60 days.
Vocera Communications pulled off a trailing four-quarter earnings surprise of 115.4%, on average. The stock has returned 85.8% in the past year.
SeaChange International, Inc. (SEAC - Free Report) carries a Zacks Rank #2. The consensus estimate for current-year earnings has been revised upward by 10% over the past 60 days.
SeaChange International delivered a trailing four-quarter earnings surprise of 37.2%, on average. The stock has, however, declined 2.4% in the past year.
Qualcomm, Inc. (QCOM - Free Report) , carrying a Zacks Rank #2, is also a solid pick for investors. The consensus estimate for current-year earnings has been revised 12.2% upward over the past 60 days.
Qualcomm delivered a trailing four-quarter earnings surprise of 12.2%, on average. It has appreciated 19.2% in the past year.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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