Retail salesx 4th quarter 20175/29/2023 “We’re particularly pleased to see our market-access platforms continue to evolve as we anticipated. “As we enter the second year under our Framework, the strategic and financial benefits of Corning’s focused portfolio are even more apparent,” said Weeks. Since the Framework was announced, the company has achieved key milestones including the return of $6 billion to shareholders by increasing the dividend 12.5% and repurchasing 22% of its outstanding shares and completing the realignment of Dow Corning Corporation, which unlocked tremendous value for shareholders. Under the Framework, Corning plans to deliver more than $12.5 billion to shareholders while investing $10 billion in growth opportunities. Strategy and Capital Allocation Framework ProgressĬorning’s Strategy and Capital Allocation Framework outlines the company’s 2016-2019 leadership priorities. We are encouraged by this strength, and expect growth in these year-over-year measures in the first quarter of 2017.” “Our very strong finish to the year was highlighted by year-over-year core sales growth of 6%, core earnings growth of 24% and core EPS growth of 47%. Weeks, chairman, chief executive officer and president. “Corning delivered outstanding fourth-quarter results, continuing the momentum that began earlier in the year,” said Wendell P. Year-over-year sales, net income, and EPS growth expected in the first quarter of 2017.Significant progress since introducing the Strategy and Capital Allocation Framework, returning $6 billion to shareholders and advancing focused portfolio initiatives.Business segment performance highlights included record Corning® Gorilla® Glass volume, driven by rapid adoption of Gorilla® Glass 5 acceleration of Optical Communications growth and continued moderation in price declines in Display Technologies. Fourth-quarter results provided a strong finish to 2016: Q4 GAAP EPS of $1.47, up 765%, and core EPS of $.50, up 47%, year over year Q4 GAAP and core sales up 11% and 6% respectively, year over year.Manufacturing and Engineering PlatformsĬorning Incorporated (NYSE: GLW) today announced results for fourth-quarter and full-year 2016.
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