Corning Expects Full-Year Revenue From Gorilla Glass to Reach $1 Billion

Tuesday, 27 Nov 2012 10:05 AM

 

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Specialty glass maker Corning Inc. said it expects full-year sales of its Gorilla glass, used in smartphones and tablets, to approach $1 billion, pushing its shares up as much as 8 percent before the bell.

Revenue from Corning's specialty materials segment, which includes Gorilla glass sales, totaled $363 million in the third quarter. The unit had revenue of $1.07 billion in 2011.

Corning said it will provide details about its performance at a Credit Suisse conference in Arizona later on Tuesday.

The company also supplies LCD glass to manufacturers such as LG Display Co. Ltd. and Sony Corp.

Corning shares were trading at $12.24, after closing at $11.35 on the New York Stock Exchange on Monday.

© 2014 Thomson/Reuters. All rights reserved.

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