Rochester, N.Y. (AP) - Specialty glass maker Corning Inc. says its profit slumped 53 percent in the fourth quarter but its revenue rose 7 percent on stronger sales of glass for flat-screen televisions, computers and mobile devices.
The world's largest maker of liquid-crystal-display glass reported Wednesday that its net income fell to $491 million, or 31 cents per share, in the October-December period. That's down from a robust $1.04 billion, or 66 cents per share, a year earlier.
Excluding special items, earnings were 33 cents a share. That matches Wall Street expectations.
It says revenue rose 7 percent to $1.89 billion from $1.77billion. Analysts expected revenue of $1.85 billion.
Sales of LCD glass rose 4 percent in the quarter to $780 million.
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