| Income Statement for Universal Display Corp. (PANL) | | | | | | | Income | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Operating Revenue | 11,306 | 11,921 | 10,148 | 7,007 | 6,593 | | Adjustments to Revenue | - | - | - | - | - | | Cost of Revenue | 1,959 | 2,321 | 3,127 | 2,914 | 3,688 | | Gross Operating Profit | 13,264 | 14,243 | 13,275 | 9,921 | 10,282 | | | Selling/General/Admin Expense | (9,569) | (8,902) | (8,315) | (7,402) | (6,117) | | Research & Development | (20,909) | (19,865) | (19,183) | (16,651) | (17,898) | | EBITDA | (17,214) | (14,525) | (14,223) | (14,132) | (13,733) | | Depreciation & Amortization | (3,158) | (3,365) | (3,237) | (3,070) | (3,799) | | EBIT | (20,372) | (17,890) | (17,460) | (17,202) | (17,532) | | Interest Income | 3,599 | 2,169 | 1,420 | 796 | 162 | | Other Income, Net | - | - | - | 31 | 16 | | Total Income Avail For Interest Expense | (16,773) | (15,721) | (16,040) | (16,375) | (17,353) | | Interest Expense | (8) | (10) | (185) | (14) | - | | Pre-Tax Income | (16,781) | (15,731) | (16,226) | (16,390) | (17,353) | | Income Taxes | 805 | 545 | 424 | 613 | - | | Minority Interest | - | - | - | - | - | | Net Income from Continuing Operations | (15,976) | (15,187) | (15,802) | (15,777) | (17,353) | | Net Income from Discontinued Operations | - | - | - | - | - | | Net Income from Total Operations | (15,976) | (15,187) | (15,802) | (15,777) | (17,353) | | | Normalized Income | (15,976) | (15,187) | (15,802) | (15,777) | (17,353) | | Extraordinary Income | - | - | - | - | - | | Special Income/Charges | - | - | - | - | - | | Income from Cum. Effect of Acct Change | - | - | - | - | - | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | (15,976) | (15,187) | (15,802) | (15,777) | (17,353) | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Dividends Paid Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Preferred Dividends | - | - | - | 130 | 1,034 | | | Basic EPS from Continuing Operations | -0.47 | -0.49 | -0.56 | -0.59 | -0.82 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Basic EPS from Total Operations | -0.47 | -0.49 | -0.56 | -0.59 | -0.82 | | | Diluted EPS from Continuing Operations | -0.47 | -0.49 | -0.56 | -0.59 | -0.82 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Diluted EPS from Total Operations | -0.47 | -0.49 | -0.56 | -0.59 | -0.82 | | | |
