|[November 15, 2012]
Universal Display Corporation Ranked Number 198 Fastest Growing Company in North America on Deloitte's 2012 Technology Fast 500™
EWING, N.J. --(Business Wire)--
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 (News - Alert) 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 (News - Alert) 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
"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
dmonstrated 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 accomplishment."
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 (News - Alert) 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 (News - Alert), 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
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 this document.
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