Company Revenue Surges

Universal Display Corp., a maker of organic LED technology for the display and lighting markets, has announced its fourth-quarter and full year 2010 financial results. Fourth-quarter 2010 revenue was $10.8 million, more than double that of the same period in 2009. The rise was primarily the result of increased commercial and developmental chemical sales, the Ewing, N.J.-based company said. It reported that the sequential growth of commercial chemical sales in the fourth quarter was driven mainly by its penetration of the handheld device market. The company expects its technology to migrate to larger size displays and to the global lighting market. Also, for fourth-quarter 2010, it reported an operating loss of $201,276, compared with $4.1 million for the same period in 2009.