Tuesday, April 26, 2011

Corning's Telecom Sales Up 30% YOY

Corning reported overall Q1 20011 sales of $1.9 billion, increasing 9% sequentially and 24% year over year.
Earnings per share were $0.47, a 2% sequential increase, but a 10% decline year over year.

Telecommunications segment sales were $474 million, a 7% sequential increase and 30% year-over-year improvement. Sequential sales for the quarter increased across most of the segment's major product areas with significant demand for the company's fiber-to-the-home solutions. Corning noted that its optical fiber volume in March was higher than any other month in its history.http://www.corning.com