WASHINGTON (dpa-AFX) - Corning (GLW) reported third quarter net income attributable to company of $430 million compared to a loss of $117 million, last year. Profit per common share was $0.50 compared to a loss of $0.14. Core earnings per share increased to $0.67 from $0.54. Analysts on average expected the company to report profit per share of $0.66, for the quarter. Analysts' estimates typically exclude special items.
Third quarter net sales increased to $4.10 billion from $3.39 billion, previous year. Core sales were $4.27 billion, up 14% year over year.
In the fourth quarter, the company expects continued growth, with core sales of approximately $4.35 billion and core EPS growing faster than sales to a range of $0.68 to $0.72.
Shares of Corning are down 7% in pre-market trade on Tuesday.
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