EWING, N.J. (AP) _ Universal Display Corp. (OLED) on Thursday reported fourth-quarter net income of $19.2 million.
On a per-share basis, the Ewing, New Jersey-based company said it had profit of 40 cents.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The organic light-emitting diode technology company posted revenue of $70.1 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $69.8 million.
For the year, the company reported profit of $58.8 million, or $1.24 per share. Revenue was reported as $247.4 million.
Universal Display shares have increased 27 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $118.48, a drop of 24 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OLED at https://www.zacks.com/ap/OLED