Corning Inc. announced results for fourth quarter and full year 2017. Q4 Net sales were $2.63 billion, representing a 7% growth rate compared to $2.48 billion reported in Q4 of 2016. Net loss in Q4 was $1.41 billion, a decrease of 190% compared to net income of $1.57 billion reported in Q4 2016. Net income was impacted by $1.76 billion due to the Tax Cuts and Job Act 2017.
For the full year net sales were $10.12 billion, compared to $9.39 billion reported in 2016 and net loss was $497 million, compared to a net income of $3.70 billion reported in 2016. The company said that it is expecting a slower drop in LCD pricing this year, to ‘mid-single digit percentage declines’ which will help profit.
