Corning Inc. Gains in Sales, Earnings
Tuesday, October 25, 2016
Corning Inc. reported strong third-quarter results Tuesday, boosted by increased sales and larger profit margins in every business segment.
Under accepted accounting methods, Corning reported third-quarter net income of $284 million, or 26 cents a share, on sales of $2.51 billion, compared with net income of $212 million, or 15 cents a share, on sales of $2.27 billion for the same period one year ago.
"Corning's strong third-quarter results reflect the increasing momentum that we expected in the second half of this year," said Wendell P. Weeks, Corning chairman and chief executive. "Our operating results and progress on key growth initiatives continue to reinforce our confidence in Corning's strategy."