Last $20.65 USD
Change Today -0.05 / -0.24%
Volume 7.7M
As of 8:04 PM 08/21/14 All times are local (Market data is delayed by at least 15 minutes).

corning inc (GLW) Snapshot

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07/3/14 - $22.37
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corning inc (GLW) Details

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials worldwide. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. The Display Technologies segment manufactures glass substrates for active matrix liquid crystal displays (LCDs) that are used primarily in notebook computers, flat panel desktop monitors, and LCD televisions. The Optical Communications segment manufactures optical fiber and cable, and hardware and equipment products comprising cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. The Environmental Technologies segment manufactures ceramic substrates and filter products for emissions control in mobile and stationary, and gasoline and diesel applications. The Specialty Materials segment manufactures products that provide approximately 150 material formulations for glass, glass ceramics, and fluoride crystals. The Life Sciences segment develops, manufactures, and supplies scientific laboratory products, such as general labware and equipment, as well as specialty surfaces, media, and reagents for cell culture research, bioprocessing, genomics, drug discovery, microbiology, and chemistry. This segment also develops and produces various technologies, including the Corning Epic technology for screening; the Corning HYPER platform of vessels for cell yields; Corning Microcarriers for cell scale-up, therapy, and vaccine applications; Corning CellBIND, Matrigel, BioCoat, and Synthemax II surfaces; and Corning stemgro media. Corning Incorporated has strategic collaboration agreement with World Kitchen, LLC. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is based in Corning, New York.

corning inc (GLW) Top Compensated Officers

Executive Chairman, Chief Executive Officer, ...
Total Annual Compensation: $1.2M
Vice Chairman, Chief Financial Officer, Membe...
Total Annual Compensation: $2.4M
Operations Chief of Staff and Senior Vice Pre...
Total Annual Compensation: $1.2M
Senior Vice President and General Counsel
Total Annual Compensation: $1.0M
Chief Administrative Officer and Executive Vi...
Total Annual Compensation: $648.8K
Compensation as of Fiscal Year 2013.

corning inc (GLW) Key Developments

Corning Incorporated and Micromax Informatics Limited Sign Agreement

Corning Incorporated and Micromax Informatics Limited, have signed an agreement to deliver the durability and damage resistance of Corning(R) Gorilla(R) Glass 3 with Native Damage Resistance to Micromax smartphones.

Corning Announces Capital Expansion Project at its Canton Facility in St. Lawrence County

Corning received low-cost power allocation to support the creation of 40 jobs and a more than $21 million capital expansion project at its Canton facility in St. Lawrence County. The firm has been allocated 2.1 megawatts (MW) of power by the New York Power Authority (NYPA) and will add 30,700 square feet to accommodate additional storage and an increase in production of high-fused silica glass used by the semiconductor industry. The company is planning to expand its Canton facility by 23,500 square feet to greatly increase production at the facility, which supplies microchips for computers, cell phones and other electronics. A 7,200-square-foot warehouse is also part of the project. Corning is planning a formal ceremony for next month to mark the start of construction on the expansion project.

Corning Incorporated Reports Earnings Results for the Second Quarter of 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014

Corning Incorporated reported earnings results for the second quarter of 2014. For the period, the company reported core net sales of $2,577 million against $2,021 million a year ago, largely by the consolidation of CPM sales. Core equity earnings were $58 million against $173 million a year ago. Core earnings were $527 million against $469 million a year ago. Core EPS was $0.37 against $0.32 a year ago. Net sales were $2,482 million against $1,982 million a year ago. Equity earnings were $62 million against $166 million a year ago. Net income was $169 million against $638 million a year ago. EPS was $0.11 against $0.43 a year ago. Cap spending for the quarter was $232 million. The company expects the third quarter will bring Corning's eighth consecutive year-over-year quarterly sales and earnings improvement. The sales to be up 20% to 25% year-over-year, driven by the continued stronger heavy-duty sales in the United States and in the new due to new regulations in Europe and China. The company expects third quarter equity earnings from Dow Corning to be approximately $40 million to $45 million. The total equity earnings for third quarter are expected to be $45 million to $50 million. The company expects gross margin to be 46%, driven by Display and Gorilla Glass. The company is on track for strong earnings growth for the full year of 2014. the company continue to expect full year volume growth to be in line with market growth and worldwide share to remain stable year-over-year. The company expects the core equity earnings for Dow Corning to be approximately $225 million for the full year. Effective tax rate for 2014 overall is expected to be approximately 19%. The company revising capital spending forecast down for 2014 from $1.5 billion to about $1.3 billion. The lower forecast is due to lower spending at both CPM and its staff groups.


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