Corning Result 27/10/15

Corning reported net profit of $212 million for Q3 2015, down 79% YoY. Turnover declined 5% to $2.2 billion from $2.5 billion YoY. For the 9 month period, net profit declined 25% YoY to $1.1 billion from $1.5 billion. Turnover for the 9 month period declined 6% to $6.9 billion. The display technology segment’s net profit for the quarter decreased 15% to $257 million YoY, whereas core turnover declined 11% to $936 million YoY. Weak global economic cues led to a decline in overall sales, although Gorilla glass remained popular in the display market and the company commented that Gorilla Glass 4 is growing in popularity. LCD glass pricing saw moderate declines as the push to larger sizes is growing glass area demand.