Universal Display: Falls on weak revenue forecast, Q4 profit miss

Universal Display

21/02/2020 17:16

** OLED display maker's  OLED.O  shares fall 11.4% to near
5-month low of $158.31 
    ** Co forecasts 2020 revenue of $430 mln to $470 mln, well
below Street estimates of $496.1 mln 
    ** Co expects up to $40 mln-$50 mln hit to 2020 revenue due
to coronavirus and as customers transition their purchasing
patterns from pre-production rates to normalized rates
    ** Co's quarterly profit misses estimates by 18 cents while
revenue misses marginally, according to Refinitiv IBES estimate
 urn:newsml:reuters.com:*:nBw3BHsrFa
    ** Co misses profit estimates after four straight quarters
of beats
    ** Stock rose 120.2% in 2019, outperforming the 69.6% rise
of the S&P 400 Semiconductor & semiconductor equipment industry
index  .SPMDCSEQP 

 (Reporting by Saptaparno Ghosh)
 ((Saptaparno.Ghosh@thomsonreuters.com;))