Corning Inc., the world“s leading maker of optical fibre, said fourth quarter earnings were 34 cents a share, up 89% from a year earlier, with net income at US$ 314.6 million. Revenue hit US$ 2.1 bil…
Corning Inc., the world“s leading maker of optical fibre, said fourth quarter earnings were 34 cents a share, up 89% from a year earlier, with net income at US$ 314.6 million. Revenue hit US$ 2.1 billion, swelling 52% from last year“s sales of US$ 1.4 billion. Corning sells optical fibre to communications companies, components to go into optical systems, and advanced glass that goes into computers“ liquid crystal display screens. Corning“s fourth-quarter sales were driven by its telecommunications segment sales, which grew to US$ 1.5 billion in the quarter from US$ 869 million a year earlier. Sales of the company“s high-grade LEAF optical fibre doubled over the same quarter in 1999, and sales in the photonic technologies business also doubled. Corning“s information display segment saw sales grow to US$ 253.8 million from US$ 210.8 million a year earlier. Sales of flat-display glass grew 90% compared to the fourth quarter of 1999.