Ceramic Industry News / Glass

Corning Third Quarter Sales Grow 10%

Corning Inc. recently announced preliminary third quarter 2013 results. Core sales for the quarter were $2.1 billion, an increase of 10% over $1.9 billion in the same period of 2012. Net sales (GAAP) for the third quarter of 2013 and 2012 were $2.1 billion and $2 billion, respectively.

In the Display Technologies segment, third quarter LCD glass sequential price declines reportedly remained moderate, as expected. LCD glass volume was up slightly sequentially, driven by higher-than-expected demand in the wholly owned business. Sales in all other segments were reportedly in line with expectations.

“In a strong third quarter, Corning achieved its fourth consecutive quarter of year-over-year core EPS growth by improving core profitability in our non-display businesses and by tightly controlling operational expenses,” said Wendell P. Weeks, chairman, CEO and president. “Additionally, we are pleased with another quarter of moderate LCD glass price declines. We have made significant progress on our strategy to return to earnings growth.”

For more information, visit www.corning.com.

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