Business Context and Reporting Period
Company: Universal Display Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: April 20, 2005
Event Date: April 19, 2005
Context: The registrant entered into a material definitive agreement regarding intellectual property licensing.
Key Financial Metrics
This filing does not provide specific financial statements, revenue figures, profit margins, cash flow data, debt levels, or liquidity metrics. The document focuses exclusively on the terms of a new contractual agreement.
Material Changes
New Agreement: On April 19, 2005, Universal Display Corporation entered into an OLED Patent License Agreement and an OLED Supplemental License Agreement with Samsung SDI Co., Ltd.
Terms:
- Universal Display granted Samsung SDI license rights under various patents owned or controlled by the registrant.
- Samsung SDI is authorized to make and sell specified organic light emitting diode (OLED) display products.
- Consideration: Samsung SDI agreed to pay upfront license fees and running royalties based on sales of these display products.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms the execution of the agreement but does not provide specific guidance, future outlook projections, or detailed risk factors beyond the standard disclosure of the material agreement itself.
Unusual Items: None reported in this filing.
Investor Verification Checklist
- Verify the specific amount of upfront license fees received from Samsung SDI Co., Ltd.
- Confirm the royalty rate percentages and calculation methodology for future running royalties.
- Review the duration and termination clauses of the OLED Patent License Agreement.
- Assess the impact of this agreement on future revenue recognition in upcoming quarterly reports.