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Corning 1Q profit skids, but beats view »

From AP News  |  2009-04-27 22:07:09

LCD glassmaker's profit tumbles 99 pct but Corning still beats Wall Street forecast

Specialty glassmaker Corning Inc. said Monday its first-quarter profit fell 99 percent on slumping sales and a charge for previously-disclosed job cuts. But its adjusted earnings topped Wall Street expectations on a mid-quarter rebound in demand for its flat-screen television glass. The world's largest maker of liquid-crystal-display glass earned $14 million, or a penny a share, in the January-March quarter, down from $1.03 billion, or 64 cents a share, a year earlier. Excluding one-time ...

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