Tablets and Smartphones Key Growth Drivers for the Computer Peripheral Space

NEW YORK, NY -- (Marketwire) -- 03/04/13 -- Over the last two years, the biggest trend in the technology industry has been the shift to mobile. As more and more users shift to smartphones and tablets from personal computers, the demand for mobile computing will continue to grow. The increasing demand for smartphones and tablets will also drive growth for computer peripheral companies such as Universal Display Corporation (NASDAQ: PANL) and Synaptics Inc. (NASDAQ: SYNA).

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The PC market has been weakening over the last two years due to the shift to mobile. While computer peripheral companies that rely heavily on PC demand have suffered due to the shift, companies that focus on the smartphone and tablet markets stand to benefit. The International Data Corporation (IDC) expects worldwide shipments of tablet computers to reach 172.4 million in 2013. By 2016, worldwide shipments of tablet computers are expected to reach 282.7 million units. The smartphone market is also expected to continue to grow at robust pace.

While the shift to mobile has been a major factor behind weakness in PC market, demand has also been negatively impacted by weakness in the global economy. However, the global economy has shown signs of stabilizing since the start of this year. Economic data in the U.S. has been encouraging, while growth in China is also picking up. Europe remains in recession; however, the region has stabilized as concerns over the debt crisis have eased. All this could help the PC market and the computer peripherals industry.

Last week, Universal Display Corporation had announced its financial results for the fourth quarter of 2012. For the quarter ended December 31, 2012, the Ewing, New Jersey-based company reported revenue of $28.1 million, up 51% on a year-over-year basis. The company's operating income for the fourth quarter of 2012 rose 135% on a year-over-year basis to $8.4 million. Net income for the quarter came in at $5.4 million, or $0.12 per share.

Sidney D. Rosenblatt, Executive Vice President and CFO of Universal Display Corporation, said that the company's goal is to solidify and extend its market leadership to capitalize on the growth of organic light emitting diode (OLED) market.

For fiscal year 2013, Universal Display Corporation expects revenue to be between $110 million and $125 million.

Back in January, Synaptics Inc. had reported its financial results for the second quarter ended December 31, 2012 also provided guidance for the March quarter.

CFO Kathy Bayless had said that considering the company's backlog of approximately $79 million, customer forecasts, and the resulting expected product mix, revenue for the March quarter is expected to be between $140 million and $148 million, which represent a year-over-year increase of 6% to 12%. Bayless noted that the company expects revenue from mobile products to be the primary growth driver.

For the second quarter, the company had reported net revenue of $143 million.

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