UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
UNIVERSAL DISPLAY CORPORATION
(Exact name of Registrant as Specified in Its Charter)
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(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
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(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s Telephone Number, Including Area Code:
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On August 1, 2019, the Registrant filed a quarterly report on Form 10-Q for the quarterly period ended June 30, 2019. In the Notes to Consolidated Financial Statements (Unaudited) under Part 1, Item 1 of such Form 10-Q, the first table shown in Note 16 (Concentration of Risk) inadvertently contained immaterial errors in the percentage of revenues for Customer B for the three and six month periods ended June 30, 2018.
For the three months ended June 30, 2018, the correct percentage of revenues for Customer B is 5%, and for the six months ended June 30, 2018, the correct percentage of revenues for Customer B is 8%.
A corrected table is below:
Revenues and accounts receivable from the Company's largest customers were as follows (in thousands):
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% of Revenues for the Three months ended June 30, |
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% of Revenues for the Six Months Ended June 30, |
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Accounts Receivable as of |
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Customer |
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2019 |
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2018 |
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2019 |
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2018 |
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June 30, 2019 |
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A |
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39% |
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33% |
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39% |
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26% |
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$ |
15,041 |
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B |
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24% |
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5% |
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19% |
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8% |
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$ |
17,088 |
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C |
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23% |
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42% |
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26% |
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48% |
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$ |
16,701 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Universal Display Corporation |
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Date: August 2, 2019 |
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By: |
/s/ Sidney D. Rosenblatt |
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Sidney D. Rosenblatt |
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Executive Vice President, Chief Financial Officer, Treasurer and Secretary |
Document And Entity Information |
Aug. 01, 2019 |
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| Document And Entity Information [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Aug. 01, 2019 |
| Entity Registrant Name | UNIVERSAL DISPLAY CORP \PA\ |
| Entity Central Index Key | 0001005284 |
| Entity Emerging Growth Company | false |
| Title of 12(b) Security | Common Stock, $0.01 par value |
| Trading Symbol | OLED |
| Security Exchange Name | NASDAQ |
| Entity File Number | 1-12031 |
| Entity Incorporation, State or Country Code | PA |
| Entity Tax Identification Number | 23-2372688 |
| Entity Address, Address Line One | 375 Phillips Boulevard |
| Entity Address, City or Town | Ewing |
| Entity Address, State or Province | NJ |
| Entity Address, Postal Zip Code | 08618 |
| City Area Code | (609) |
| Local Phone Number | 671-0980 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |