Corning Q1′08: Glass Volume Up 50% Y/Y
On April 29, 2008, Corning (GLW) announced Q1′08 results. Overall sales were up 24% Y/Y to US$1.62 billion. What I’m interested in is the Display Technologies division: Glass volume increased 2% Q/Q and 50% Y/Y. Part of the Display Technologies division is Samsung Corning Precision Glass (SCP) where volume was flat Q/Q but up 46% Y/Y.
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Q1′08 Results
- Glass volume (all): Up 2% Q/Q and 50% Y/Y
- Glass volume (SCP): Flat Q/Q and 46% Y/Y
- Glass sales (all): Up 7% Q/Q and 58% Y/Y to US$829 million
As I understand it, Corning’s glass sales are in Japanese Yen. With the weakening US dollar, Corning’s sales and earnings benefited.
The company has a rosy Q2′08…
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