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Corning: 4Q Earnings Snapshot

CORNING, N.Y. (AP) _ Corning Inc. (GLW) on Tuesday reported fourth-quarter net income of $292 million, after reporting a loss in the same period a year earlier.

The Corning, New York-based company said it had net income of 32 cents per share. Earnings, adjusted for non-recurring costs, were 59 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The specialty glass maker posted revenue of $3.04 billion in the period. Its adjusted revenue was $3.08 billion, which also topped Street forecasts. Three analysts surveyed by Zacks expected $3.02 billion.

For the year, the company reported net income of $1.07 billion, or $1.13 per share, swinging to a profit in the period. Revenue was reported as $11.4 billion.

Corning shares have climbed slightly since the beginning of the year, while the Standard & Poor's 500 index has increased 5.5 percent. The stock has declined 12 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLW at https://www.zacks.com/ap/GLW