Shares of OLED technology expert Universal Display (NASDAQ: OLED ) are plunging today, down 13.4% as of this writing — no, make that 13.8%. The downward trajectory is pretty clear.
What did the company do to deserve a beating in the middle of Wall Street? Last night’s first-quarter report didn’t exactly impress.
In raw numbers, this quarter was just fine. Analysts were expecting a net loss of $0.10 per share on roughly $14.4 million in sales. Reported earnings matched that $0.10 target exactly, and sales came in a tad higher at $15.0 million.
But it wasn’t a “beat and raise” victory lap. Instead, management simply underscored revenue existing guidance for the just-started fiscal year, ranging from $110 million to $125 million.
That’s disappointing due to the simple fact the largest customer Samsung has a hit on its hands with the Galaxy S4 smartphone. The Korean company can hardly make enough components to satisfy global orders, and this OLED-equipped handset is expected to roughly double last year’s Galaxy S3 sales.
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Xyratex Ltd provides modular solutions for the enterprise data storage industry and hard disk drive (HDD) capital equipment for the HDD industry. It offers enterprise data storage solutions that include storage enclosures, which provide a common technology platform that reduces qualification time for original equipment manufacturer (OEM) customers and includes management interface software, standardized across enclosures, and provides easy integration as new platforms; integrated application platforms that comprise embedded storage platforms, which incorporate embedded server modules into its storage enclosures; and HPC Solutions that consolidate controllers, storage enclosures, application platforms, operating system, data protection, Lustre File System, and management software into a optimized scale-out storage platform that can be deployed in hours rather than weeks. The company also designs and manufactures a range of process test systems, which incorporate mechanical and electronic hardware, and firmware for controlling the HDD operating environment during the formatting of the disk drive. In addition, it provides automated solutions comprising substrate and media inspection systems; servo track writers and related subassemblies; and head testing systems that test and process HDD components throughout the manufacturing process. The company markets and sells its products primarily to OEMs and disk drive manufacturers, as well as to other companies in North America, Asia, and Europe. Xyratex Ltd was founded in 1966 and is headquartered in Havant, the United Kingdom.