Corning Reports Strong Third-Quarter Earnings

Date: 25 October 2007
Source: Businesswire.com

Date: 25 October 2007

Corning Incorporated announced results for the third quarter of 2007. Third-Quarter Highlights - Sales reached $1.55 billion, up 21% year-over-year. - Earnings per share (both GAAP and non-GAAP) were $0.38, better than the company’s guidance of $0.34 to $0.37 and significantly better than last year. - Display Technologies’ glass volume increased 15% and Samsung Corning  - Precision’s volume increased 14% compared to quarter two.

Price declines in the quarter were in line with previous quarters.

- Sequentially, telecommunications sales increased 8% (10%* excluding the impact of the divestiture of the company’s submarine cabling business in the second quarter).

Fourth-Quarter Outlook Highlights



- Sales are expected in the range of $1.50 billion to $1.55 billion.

- EPS is expected in the range of $0.36 to $0.38 before special items.*

- Display volume is expected to be up 2% to 5% sequentially, and consistent with the overall glass market growth.

- Telecommunications sales are expected to decline about 10% sequentially, in line with normal seasonal patterns.



Wendell P. Weeks, chairman and chief executive officer, said, “Corning delivered a robust third quarter with excellent performance in our Display   Technologies and Telecommunications segments. As we expected, telecommunications sales improved in the quarter.”



Read the entire results here
600450 Corning Reports Strong Third-Quarter Earnings glassonweb.com

See more news about:

Others also read

MORE...

Glaston and Corning Incorporated join efforts in ultra-thin architectural glass processing
Glaston and Corning Incorporated join efforts in ultra-thin architectural glass processing
Glaston, a leader in the glass processing industry and the inventor of the Thermo Plastic Spacer (TPS®), has developed a new processing method suitable to install thin glass into triple insulating glass units.
Corning Incorporated joins Glass Futures
Corning Incorporated joins Glass Futures
Corning Incorporated joins not-for-profit Glass Futures in support of the organization’s efforts to make glass manufacturing fully sustainable.
Corning Introduces the Industry’s First AutoGrade™ Glass Solutions for Automotive Interiors
Corning Introduces the Industry’s First AutoGrade™ Glass Solutions for Automotive Interiors
Newest Corning Gorilla Glass for Automotive Interiors solutions widen the design window to reliably and economically enable next-generation trends.
Corning to Invest in Manufacturing Facility for Automotive Glass Solutions
Corning to Invest in Manufacturing Facility for Automotive Glass Solutions
Retrofitted facility will be third Corning manufacturing site in Hefei, China.
Inspired by Glass: Corning® Gorilla® Glass for Interior Architecture at 740 Broadway
Inspired by Glass: Corning® Gorilla® Glass for Interior Architecture at 740 Broadway
Corning is changing the rules of interior architecture with their durable, lightweight, thin, optically clear solution - Corning® Gorilla® Glass
High Technology Glass with Privacy Smartglass
High Technology Glass with Privacy Smartglass
Smartglass International is pleased to announce that we have provided custom-built Privacy Smartglass windows for the Corning Demo Car Display in San Jose, California, USA.

Add new comment