Corning Pro Forma EPS Up 80% for Q2

Strong demand for Corning’s high-tech products drives results, company’s full-year earnings outlook increases

July 17, 2000

1 Min Read

CORNING, NY -- Corning Incorporated (NYSE: GLW) reported today that its second quarter pro forma earnings per share increased 80%. The performance was driven by strong demand for Corning’s high-technology products, particularly its high-data-rate optical fiber and cable, and LCD flat-panel display glass.

The company reported second-quarter pro forma earnings of $0.94 per share, compared with $0.52 per share in the same quarter of 1999. Pro forma net income for the second quarter of 2000 totaled $271.1 million, approximately double the $136.5 million from the second quarter of 1999. Pro forma net income excludes amortization of purchased intangibles and goodwill, purchased in-process research and development, one-time acquisition costs, discontinued operations and other non-recurring items.

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