Corning Financial Report: 2015 Q4 business revenue of $736 million, profit of $47 million
OFweek Optical Communications Network Corning released its fourth quarter and 2015 full year financial report.
In the fourth quarter of 2015, Corning achieved sales of US$2.4 billion and earnings per share of US$0.34. In the fourth quarter of 2014, it was US$2.5 billion and US$0.42 per share.
GAAP financial significance was net sales of $2.2 billion and earnings per share of $0.17.
In 2014, they were US$2.4 billion and US$0.7 per share respectively.
Throughout 2015, Corning had sales of US$9.8 billion and earnings per share of US$1.4.
In 2014, sales were US$10 billion and earnings per share were US$1.42.
GAAP sales for the full year of 2015 were US$9.1 billion, with earnings per share of US$1.
In 2014, it was US$9.7 billion, with earnings per share of US$1.73.
Adjusted cash flow for the year was US$3.2 billion.
Wendell P. Weeks, Chairman and CEO of Corning Incorporated, said that the industry's performance in the fourth quarter was in line with expectations.
Corning's long-term supply contracts and effective pricing strategies for Corning's glass business continue to benefit Corning's overall performance, and technology trends in the optical communications field also continue to boostThe company's performance grows.
He also said that Corning’s US$20 billion four-year investment plan announced in October 2015 has begun operations.
Corning focuses on investing in technologies that help the company grow and continue to gain leadership.
By business, Corning Tube's business revenue in the fourth quarter was US$736 million, with a profit of US$47 million, compared with US$676 million and a profit of US$48 million in the same period last year.
Corning predicts that the first quarter of 2016 will be the most pessimistic quarter of the year, but its performance in the second quarter will recover.
