Corning Incorporated has released its 2015 second-quarter earnings. The results showed some businesses surging while others predictably held steady or had declined slightly.
Company representatives said they're very pleased with the results, which were led by growth in optical communications. Core sales and earnings saw modest growth in the display technologies business, while sales were down slightly from last year’s second quarter in environmental technologies, specialty materials and life sciences. Those declines were expected and planned for.
“Whenever a new technology is introduced at a premium price, over time that price will decline,” said Dan Collins, Corning Inc. vice president of corporate communications. “The challenge we have is to create manufacturing efficiencies to offset the price declines. It’s a natural progression.”
In the second quarter of 2015, Corning's core net sales were $2.5 billion dollars, which is consistent with the prior year's quarter. James Flaws, the company's vice chairman and chief financial officer, said "We are very pleased with our excellent business results in the quarter. Our overall performance was in line with our expectations."
“We think in the third quarter we’ll see moderate sales for display glass. Other businesses will be similar to what we’ve seen so far,” said Tony Tripeny, Corning Inc. vice president and corporate controller. “Optical communications we think will be up for the entire year. That’s significant growth. We feel great about Gorilla Glass 4. It’s had spectacular success and is the fastest growing version we’ve had.”