Corning Inc. Q4 adjusted earnings Beat Estimates

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(RTTNews) – Corning Inc. (GLW) released earnings for its fourth quarter that increased from last year.

The company’s bottom line totaled $252 million, or $0.28 per share. This compares with $32 million, or $0.01 per share, in last year’s fourth quarter.

Excluding items, Corning Inc. reported adjusted earnings of $462 million or $0.52 per share for the period.

Analysts had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 18.8% to $3.35 billion from $2.82 billion last year.

Corning Inc. earnings at a glance:

-Earnings (Q4): $462 Mln. vs. $406 Mln. last year. -EPS (Q4): $0.52 vs. $0.46 last year. -Analysts Estimate: $0.48 -Revenue (Q4): $3.35 Bln vs. $2.82 Bln last year.

-Guidance: Next quarter EPS guidance: $0.40 – $0.44 Next quarter revenue guidance: $3.0 – $3.2 Bln

Bastion Balance Seoul, Korea.