Corning Swings to 1Q Profit, Reports Double-Digit Sales Growth
30 Abril 2019 - 9:07AM
Dow Jones News
By Patrick Costello
Corning Inc. (GLW) on Tuesday said it swung to a profit in the
first quarter as it reported double-digit sales and earnings growth
for the three-month period.
The Corning, N.Y.-based speciality glass and ceramics company
earned a quarterly profit of $499 million, or 55 cents a share,
compared with a loss $589 million, or 72 cents a share, for the
same period last year.
Excluding items, Corning reported an adjusted profit of 40 cents
a share for the quarter, compared with 31 cents a share last year
and analysts' forecasts of 42 cents.
Net sales rose 12% to $2.81 billion from $2.5 billion.
"We had an excellent first quarter, with strong performance
across the company," Corning Chief Financial Officer Tony Tripeny
said. "We increased earnings per share by 29% and four of our five
segments achieved double-digit sales growth year over year."
Write to Patrick Costello at patrick.costello@dowjones.com
(END) Dow Jones Newswires
April 30, 2019 07:52 ET (11:52 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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