Universal Display Holds 2010 Annual Meeting of Shareholders

Universal Display Corporation, enabling energy-efficient displays and lighting with its UniversalPHOLED technology and materials, today held its 2010 Annual Meeting of Shareholders at the Crowne Plaza – Philadelphia Main Line.

During the meeting, Universal Display’s president and CEO Steven V. Abramson reviewed the company’s accomplishments and performance over the past year, noting that the company’s recent growth is a strong indication of the increasing acceptance of OLEDs in the marketplace.

Abramson also highlighted the company’s activities over the past year to expand the adoption of its UniversalPHOLED technology and materials in three key growth markets for OLEDs, where energy conservation and eco-friendliness have become priorities.

“Bright, beautiful, energy-efficient OLED displays are increasingly penetrating the mobile display market, especially for high-end smartphones,” Abramson stated. “OLEDs have also become recognized as the leading technology for the next generation of large-area televisions, and energy-efficient white OLED lighting products are getting closer to commercial reality. Our UniversalPHOLED technology and materials drive power consumption down and, as a result, have become widely-recognized as a key component for high-performance OLED displays and essential for energy-efficient white OLED lighting.”

Abramson also emphasized the company’s continued focus on innovation. The company introduced a new light blue UniversalPHOLED emitter at the 2010 SID International Symposium, Seminar and Exhibit last month. This new higher-efficiency, longer-lived emitter has enabled significant advances in performance. With this new emitter, the company recently reported performance results for an all-phosphorescent, commercial-sized white OLED lighting panel that can begin to address initial white lighting applications. This new light-blue PHOLED emitter also plays a key role in the company’s novel four sub-pixel display design. With enhanced energy efficiency and extended operating lifetime, this new design may accelerate the commercial introduction of all-phosphorescent active-matrix OLED displays.

The company also exhibited a variety of new OLED prototypes and product concepts. Highlights included a next-generation flexible OLED wrist-mounted communications device, developed in collaboration with LG Display and L-3 Communications Display Systems for the U.S. Department of Defense, as well as a prototype white OLED lighting system designed for integration into Armstrong World Industries’ TechZone Ceiling System developed with support from the U.S. Department of Energy.

In addition, a 2.2” activematrix OLED display prototype using the company’s novel four sub-pixel architecture and several white PHOLED lighting panel designs using the company’s new light blue PHOLED emitter were exhibited. The company also showcased a novel desk lamp design to illustrate the ultra-thin form factor of a white OLED lighting panel and an OLED art piece called the “Transparent Light Origami” that highlights the features of transparency and the beauty of OLED emission.

“Our 2009 revenues grew 50% over revenues in 2008, and that positive trend continued in the first quarter of 2010,” Abramson concluded, “The OLED display and lighting markets are growing, an increasing number of major manufacturers are adding production capacity and a wide variety of exciting products are in the market with even more on the horizon. Technology licensing, UniversalPHOLED material sales, and technology development, transfer and support services are the core elements of our business model today. As the only company able to provide both OLED technology and PHOLED materials, we are positioned as an industry leader. With an experienced team, over 1,000 patents issued and pending worldwide, and cutting-edge OLED technologies and materials, Universal Display is poised to meet this growing demand and enhance shareholder value.”