Press release
Universal Display Corporation Holds Virtual 2022 Annual Meeting of Shareholders
EWING, N.J.--(BUSINESS WIRE)-- Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED®
About this update from Universal Display Corporation
[{"type":"text","content":" EWING, N.J.--(BUSINESS WIRE)--\nUniversal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, yesterday held its Virtual 2022 Annual Meeting of Shareholders.\n\n“As we look back on 2021, we continued to build on our strong partnerships, advance our innovation engine and fortify our leadership position -- all of which, we believe, has bolstered our first-mover advantage in the OLED ecosystem and strengthened our runway of growth,” said Steven V. Abramson, Universal Display Corporation's President and Chief Executive Officer. “We delivered record 2021 results of $554 million in revenue, $228 million in operating income and $184 million in net income, or $3.87 per diluted share. We also extended our long-term agreements with LG Display, Visionox Technology and Tianma Micro-electronics. And on the global manufacturing front, we announced with PPG, our foundry partner of more than 20 years, the establishment of a new manufacturing site in Shannon, Ireland, for the production of our highly efficient, high-performing UniversalPHOLED materials.”\n\nAbramson continued, “Twenty-five-plus years of ‘vision, innovation and reality’ has positioned Universal Display Corporation as a leader in the OLED industry. We have designed and executed on a blueprint of innovation, agility and growth. From the invention of phosphorescent OLED technology to the discovery, development and delivery of next-generation OLED materials and technologies, we are continuously envisioning, shaping and strengthening our technology roadmap. We are also making advances in our novel OVJP (organic vapor jet printing) platform and groundbreaking energy efficiency Plasmonic PHOLED architecture. This multifaceted strategic approach enables us to support our customers, expand our market opportunities and amplify our value proposition in the OLED ecosystem. Combined with our expanding global scale and partnerships, we are excited for the extraordinary opportunities ahead.”\n\nDuring the annual meeting, shareholders voted on the three proposals described in the Company’s proxy statement for the meeting. The shareholders re-elected all nine nominees for the Company’s Board of Directors, approved a non-binding, advisory resolution on compensation of the Company’s named executive officers, and ra...