CORNING, N.Y. (AP) — CORNING, N.Y. (AP) — Corning Inc. (GLW) on Wednesday reported fourth-quarter net income of $310 million.
On a per-share basis, the Corning, New York-based company said it had net income of 36 cents. Earnings, adjusted for restructuring costs and non-recurring costs, came to 57 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The specialty glass maker posted revenue of $3.5 billion in the period. Its adjusted revenue was $3.87 billion, which also topped Street forecasts. Six analysts surveyed by Zacks expected $3.77 billion.
For the year, the company reported profit of $506 million, or 58 cents per share. Revenue was reported as $13.12 billion.
For the current quarter ending in March, Corning said it expects revenue in the range of $3.6 billion.
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