Corning 3Q Sales Slightly Up, Expects Lowering Glass Prices In 4Q

Date: 26 October 2006
Source: Digitimes.com

Date: 26 October 2006

Corning yesterday announced third-quarter sales of US$1.28 billion, slightly up on quarter and 8% on year. The company saw gross margin for the third quarter remain strong at 44% and had net income of US$438 million, or US$0.27 per share, Corning said.





Third-quarter sales for Corning's display technologies segment were US$506 million, a 3.5% increase over 2005 third quarter sales of US$489 million. LCD glass substrate volume increased 31% on year in the third quarter, largely offset by price declines and the impact of foreign exchange rates. Quarterly, third-quarter sales increased 10% from second-quarter sales of US$461 million, as volume increases of 16% were offset somewhat by price declines and the impact of foreign exchange rates.



The third-quarter volume from Samsung Corning Precision Glass (SCP), Corning's 50%-owned equity venture that manufactures LCD glass substrates in South Korea, increased 38% on year and 11% on quarter. Equity earnings from SCP were US$135 million, up 18% over last year and up about 2%, compared with the second quarter.



Total LCD glass substrate volume, including both Corning's wholly owned business and SCP, increased 35% on year and 13% on quarter.



Read the entire news on the source link below.

600450 Corning 3Q Sales Slightly Up, Expects Lowering Glass Prices In 4Q glassonweb.com

See more news about:

Others also read

GAOREN’s super clear EVA film offers outstanding optical clarity for switchable glass applications.
In order to further reduce the carbon footprint of architectural glass, Glas Trösch will focus on thin glass solutions in the future.
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.
Guardian Glass and Webasto Luxembourg announce they have entered an agreement for Guardian to supply a new coated glass solution from the Guardian SilverGuard™ product family for Webasto panoramic sunroofs.
Corning Incorporated joins not-for-profit Glass Futures in support of the organization’s efforts to make glass manufacturing fully sustainable.
The logo and brand identity reflect the bold, energetic and forward-looking culture of the company.

Add new comment

From industry

2200 W. Salzburg Rd.
Auburn , MI 48611
United States