Universal Display Corporation Ranked Number 198 Fastest Growing Company in
North America on Deloitte’s 2012 Technology Fast 500™
EWING, N.J. -- November 15, 2012
Universal Display Corporation (NASDAQ: PANL), today announced it ranked number
198 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing
technology, media, telecommunications, life sciences and clean technology
companies in North America during the previous five years. Universal Display
grew 442 percent during this period, and this marks the eighth year the
company has been ranked in the Technology Fast 500.
“We are honored to be ranked in Deloitte’s Technology Fast 500 for the eighth
consecutive year. We have been committed to delivering state-of-the-art OLED
technologies and UniversalPHOLED materials to support our partner and
customer’s development and commercialization of high-performance OLED
products, including Samsung’s power-efficient OLED displays for their Galaxy
line of smart phones,” stated Steven V. Abramson, Universal Display’s
President and Chief Executive Officer. “With investments in our team, our
technologies and our infrastructure, we have built a strong foundation to
support the OLED display and lighting industries with continued innovations as
the market grows from almost $4 billion in 2011 to over $30 billion in 2017,
as projected by Display Search.”
“We are proud to honor the 2012 Technology Fast 500 companies, and commend
them for their outstanding growth,” said Eric Openshaw, vice chairman,
Deloitte LLP and U.S. technology, media and telecommunications (TMT) leader.
“These ground-breaking companies have outpaced their competition and are
reinventing the way we do business today.”
“The companies on the Fast 500 list are among those that have demonstrated
remarkable innovation, creativity and business savvy,” said Bill Ribaudo
partner, Deloitte & Touche LLP and national TMT leader for audit and
enterprise risk services (AERS). “As a result, these companies have continued
to successfully forge ahead in a challenging economic environment. We applaud
the leadership and employees of Universal Display Corp. for this impressive
Universal Display previously ranked number 462 as a Technology Fast 500 award
winner for 2011.
About Deloitte’s 2012 Technology Fast 500
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of
the fastest growing technology, media, telecommunications, life sciences and
clean technology companies – both public and private - in North America.
Technology Fast 500 award winners are selected based on percentage fiscal year
revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must
own proprietary intellectual property or technology that is sold to customers
in products that contribute to a majority of the company's operating revenues.
Companies must have base-year operating revenues of at least $50,000 USD or
CD, and current-year operating revenues of at least $5 million USD or CD.
Additionally, companies must be in business for a minimum of five years, and
be headquartered within North America.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: PANL) is a leader in developing and
delivering state-of-the-art, organic light emitting diode (OLED) technologies,
materials and services to the display and lighting industries. Founded in
1994, the company currently owns or has exclusive, co-exclusive or sole
license rights with respect to more than 2,700 issued and pending patents
worldwide, including those acquired from Fujifilm. Universal Display licenses
its proprietary technologies, including its breakthrough high-efficiency
UniversalPHOLED® phosphorescent OLED technology, that can enable the
development of low power and eco-friendly displays and white lighting. The
company also develops and offers high-quality, state-of-the-art
UniversalPHOLED materials that are recognized as key ingredients in the
fabrication of OLEDs with peak performance. In addition, Universal Display
delivers innovative and customized solutions to its clients and partners
through technology transfer, collaborative technology development and on-site
Based in Ewing, New Jersey, Universal Display works and partners with a
network of world-class organizations, including Princeton University, the
University of Southern California, the University of Michigan, and PPG
Industries, Inc. The company has also established relationships with companies
such as AU Optronics Corporation, Chimei Innolux Corporation, DuPont Displays,
Inc., Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Lumiotec,
Inc., Moser Baer Technologies Inc., Panasonic Idemitsu OLED Lighting Co.,
Pioneer Corporation, Samsung Display Corporation, Seiko Epson Corporation,
Sony Corporation, Showa Denko K.K., and Tohoku Pioneer Corporation. To learn
more about Universal Display, please visit http://www.universaldisplay.com.
Universal Display Corporation and the Universal Display logo are trademarks or
registered trademarks of Universal Display Corporation. All other company,
brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those
relating to Universal Display Corporation’s technologies and potential
applications of those technologies, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. You are
cautioned not to place undue reliance on any forward-looking statements in
this document, as they reflect Universal Display Corporation’s current views
with respect to future events and are subject to risks and uncertainties that
could cause actual results to differ materially from those contemplated. These
risks and uncertainties are discussed in greater detail in Universal Display
Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the
Securities and Exchange Commission, including, in particular, the section
entitled “Risk Factors” in Universal Display Corporation’s annual report on
Form 10-K for the year ended December 31, 2011. Universal Display Corporation
disclaims any obligation to update any forward-looking statement contained in
Joe Hassett, 610-228-2110
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