Corning Incorporated, trading as (GLW), has stated that it predicts first-quarter core sales will amount to approximately $3.1 billion, with the core EPS projected to fall anywhere between $0.32 and $0.38. The company also anticipates this financial quarter to see the lowest performance of the year.
In comparison to last year's figures, the fourth-quarter GAAP net loss was reportedly $40 million or $0.05 per share, which is slightly up from a loss of $36 million or $0.04 per share. Core EPS decreased to $0.39 from $0.47. The findings came in accordance with predictions from 11 analysts, surveyed by Thomson Reuters, who expected the company to report a profit per share of $0.39, for the quarter. Typically, these forecasted estimations exclude any exceptional or one-off items.
Concerning the company's reported figures, fourth-quarter GAAP net sales were $2.99 billion, a decrease of 12% compared to last year. Additionally, core sales were at $3.27 billion, which shows a 10% drop. These numbers were close to estimates by analysts, who had predicted an average of $3.25 billion in revenue.
