Corning sales have been on a serious hike lately as the company is facing strong demand from the market. Corning Inc. has come up with a real high sales and profits because of the fact that the glass that is being used in mobile devices, LCD screens and telecommunication equipments is in a high demand because all these different products are in a high demand around the world.
The company defines the recent earning and time frame as being an exceptional quarter as both the ceramics and glass giant has come up with serious profits in the recent past.
Financial Figures:
The second quarter of 2010 that ended on June 30 has accounted for the sales to be somewhere around $1.71 billion that is quite impressive. The figures are 23% higher than the last year that accounted fewer sales on the overall. The sequential gain in the overall sales is 10% compared to the first quarter of the same year. The profit was even impressive as the company gained around $913 million profit that was on a real hike compared to the 49% less profit in the previous year. The sequential rise in profits accounts to be somewhere around 12% with earnings per share of $0.58 in the second quarter.
Market Trend:
The largest business of corning came up with the highest profit this year compared from the previous year. There was a 24% rise in the display technologies precisely. Most of the display technology was being used up in the field of LCD televisions. There were quite a lot of sales of LCD TVs around the globe that accounts for the high demand in the technology that is used up for display purposes. Analysts expect that the demand for the LCD televisions will stay on the hike for the rest of the year ensuring excellent revenue for the rest of the fiscal year as well.
LCD TV is penetrating through the market and is coming up as an excellent trend altogether as more and more people are purchasing the TV due to the convenience it offers in terms of handling and the picture quality that it is offering as time is passing. The trend of the classical CRT television has come to an end finally. In addition to that, China is expected to become the world’s largest consumer market of LCD TVs so the company is expecting to do healthy business with them in the future as well.
Corning Inc. is also planning to come up with an exclusive glass substrate facility production in China and it has also restated the expansion project of its LCD glass manufacturing site in Taichung, Taiwan just to meet the overwhelming demand of LCD televisions in the region.
Out of all that Corning Inc. have earned in the first quarter of this year, most of it was coming from the display technologies because of the fact that more and more people are interested in the enhanced display technologies than anything else in the world.
