Corning Annual Sales Increase 23%
2010 sales were $6.6 billion, a 23% increase over $5.4 billion a year ago, with each of the company’s business segments growing year over year. Gross margin percentage improved to 46% from 39%; earnings per share were $2.25, a 76% increase over last year.
“This past year was one of the most successful in the company’s 160-year history,” said Wendell P. Weeks, chairman, CEO and president. “Back in February, we said that our goal was to emerge from the recession as a stronger, more profitable company. I believe we have accomplished this. We achieved excellent financial results with strong sales growth and net profit improvement in each of our businesses. We substantially grew our cash position and saw the emergence of a significant new opportunity with Corning Gorilla Glass.”
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