CORNING, N.Y. (AP) — CORNING, N.Y. (AP) — Corning Inc. (GLW) on Wednesday reported fourth-quarter net income of $540 million.
The Corning, New York-based company said it had net income of 62 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 72 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The specialty glass maker posted revenue of $4.22 billion in the period. Its adjusted revenue was $4.41 billion, also beating Street forecasts. Five analysts surveyed by Zacks expected $4.32 billion.
For the current quarter ending in March, Corning expects its per-share earnings to range from 66 cents to 70 cents.
The company said it expects revenue in the range of $4.2 billion to $4.3 billion for the fiscal first quarter.
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