Ceramic Industry News / Advanced Ceramics

Corning Reports 17% Increase in Second Quarter Sales

Corning Inc. recently announced its results for the second quarter of 2011. Sales were $2 billion, an increase of 4% sequentially and 17% year over year. Display Technologies’ wholly owned business volume decreased slightly sequentially and about 5% compared to a year ago. Samsung Corning Precision Materials Co. Ltd.’s volume was up about 10% on a quarterly basis and up slightly year over year. The total glass volume (Corning’s wholly owned business and SCP combined) increased 5% sequentially. Specialty Materials segment sales were $283 million, an 11% sequential and 125% year-over-year improvement that was driven by continued strong demand for Corning® Gorilla® Glass for handheld devices, tablets, and laptop computers.

“Second quarter results were in line with our expectations,” said Wendell P. Weeks, chairman, CEO and president. “Corning Gorilla Glass is the cover glass of choice for next-generation mobile devices. Sales continued growing across our major telecommunications product lines, and global demand for our Environmental Technologies emissions products remained strong.”

According to Weeks, the results demonstrate that the company is moving toward its goal of becoming a more balanced global company by pursuing growth opportunities. For more information, visit www.corning.com.

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