Corning Announces Third-Quarter Results

Date: 30 October 2009
Source: Corning
LCD glass volume to remain strong 2010 LCD glass market expected to grow 15% CORNING, N.Y., October 26, 2009 – Corning Incorporated (NYSE:GLW) today announced.

Its results for the third quarter of 2009, as well as its expectations for the remainder of the year.
 
Third-Quarter Highlights
 
Sales were $1.5 billion, up 6% sequentially. Earnings per share were $0.41. Excluding special items, EPS was $0.42*, a sequential gain of 8%. Display Technologies combined glass volume, including Corning’s wholly owned business and Samsung Corning Precision Glass Co., Ltd. (SCP), increased 4% over a very strong second quarter. Volume in the company’s wholly owned business was consistent with the second quarter, while SCP’s volume increased 7%. Glass pricing was comparable to the previous quarter. The company’s gross margin for the quarter was 41%. Equity earnings were $418 million, an increase of 16% over last quarter, and an all-time record for Corning. Corning completed the acquisition of Axygen Bioscience, Inc. for approximately $410 million.
 
Read more details here.

600450 Corning Announces Third-Quarter Results glassonweb.com

See more news about:

Others also read

The latest version of the world’s largest trade fair dedicated to the glass industry is now complete, but the impact from many of the products and services displayed last week at glasstec will live on for many years.
Research Frontiers Inc. and Israel-based material science company Gauzy Ltd. announced today that Gauzy will be producing SPD-Smart light control film for the entire SPD-SmartGlass industry.
OSG and Heliotrope Technologies Inc. will join forces at the InnoTrans 2018 in Berlin this fall.
Maintenance Free Privacy Glazing Solution for Patient Rooms.
Research Frontiers Inc. and Israel-based material science company Gauzy Ltd. announced today that Gauzy has lead a group that has invested $2 million in SPD-SmartGlass technology company Research Frontiers.
ChromoGenics AB (publ) has signed an agreement with Regal Förvaltning AB to deliver ConverLight® to an office in Uppsala.

From industry

Add new comment