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Date Announced: 19 Oct 2011
Attributes 156 percent revenue growth to OLED device manufacturers’ demand for the company’s superior, high performance proprietary UniversalPHOLED technology and materials.
EWING, N.J.--(BUSINESS WIRE)-- Universal Display Corporation (NASDAQ:PANL - News), enabling energy-efficient OLED displays and lighting with its UniversalPHOLED® technology and materials, today announced it ranked number 20 on Deloitte’s 2011 Greater Philadelphia Fast 50 ranking of the 50 fastest growing technology, media, telecommunications, life sciences and clean technology companies in the Greater Philadelphia region.
The company ranked number 462 on Deloitte’s Technology Fast 500™ ranking of the 500 fastest growing companies of these same industries throughout North America. Universal Display’s revenues grew 156 percent over the period from 2006 to 2010.
Universal Display’s President and Chief Executive Officer, Steven V. Abramson, credits growing commercialization of the company’s proprietary UniversalPHOLED technology and materials for OLED lighting and displays with the company’s 156 percent revenue growth. He said, “Our growth signifies a steady rise in the adoption of our proprietary OLED materials, technologies, and expertise for the manufacture of high value-added OLED lighting and display devices, and we are focused on supporting the continued growth of these industries as the capacity for OLED panel manufacture increases.”
“Universal Display, like all 2011 Greater Philadelphia Fast 50 companies, has excelled in fostering innovation and channeling it into spectacular growth -- against the backdrop of one of the most challenging economies in history,” said Tara L. Weiner, managing partner, Greater Philadelphia region, Deloitte LLP. “Deloitte recognizes Universal Display for its remarkable accomplishment.”
“We are pleased to honor Universal Display as a 2011 Technology Fast 500 company,” said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. “As one of the fastest growing tech companies in North America, Universal Display has demonstrated excellence in technological innovation, entrepreneurship and rapid growth.”
Overall, 2011 Greater Philadelphia Fast 50 companies achieved revenue growth ranging from 21 percent to 6,918 percent from 2006 to 2010, with an average growth of 410 percent. The 2011 Technology Fast 500™ companies achieved revenue growth ranging from 134 percent to 70,211 percent from 2006 to 2010, with an average growth of 1,736 percent.
Source: Universal Display
E-mail: via web site
Web Site: www.universaldisplay.com
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