Corning Inc. recorded a first quarter net profit of $407 million on turnover of $2.26 billion, which compares with a net profit in Q1 of the previous year of $301 million on turnover of $2.28 billion. Corning’s Display Technologies segment reported core sales of $972 million, up slightly from last year’s first quarter. The company said that total LCD glass volume grew at a high-teen percentage year on year and sequential LCD price declines were moderate, as expected.
Sales in Corning’s Specialty Materials segment were $272 million, a 4% increase from last year’s first quarter results. Gorilla Glass volume was up greater than 20%, driven by increasing demand for Gorilla Glass 4 cover glass.
