Corning Inc. Profit Retreats 27% In Q4

(RTTNews) - Corning Inc. (GLW) announced earnings for fourth quarter that lost ground compared to the same period last year.

The company said its profit fell to $429 million, or $0.34 per share. This was down from $587 million, or $0.42 per share, in last year's fourth quarter.

The company said revenue for the quarter fell 7.1% to $2.23 billion. This was down from $2.40 billion last year.

Corning Inc. earnings at a glance:

-Earnings (Q4): $429 Mln. vs. $587 Mln. last year. -Earnings Decline (Y-o-Y): -26.9% -EPS (Q4): $0.34 vs. $0.42 last year. -EPS Decline (Y-o-Y): -19.0% -Revenue (Q4): $2.23 Bln vs. $2.40 Bln last year. -Revenue Change (Y-o-Y): -7.1%