US company Corning Incorporated has reported that for the second quarter of 1996, its net income from continuing operations rose 17%
to US$ 93.8 million, or US$ 0.41 per share. Second quarter sales …
US company Corning Incorporated has reported that for the second quarter of 1996, its net income from continuing operations rose 17% to US$ 93.8 million, or US$ 0.41 per share. Second quarter sales from continuing operations totalled US$ 913.7 million, an increase of 14% over adjusted 1995 levels. The company recorded a loss from discontinued operations of US$ 56.8 million, or US$ 0.25 per share, in the second quarter of 1996. The loss includes a charge for the estimated costs related to the spin-offs and a charge to increase reserves for government claims at Corning Clinical Labs, offset by the estimated results of the segment through the anticipated date of the spin-off.