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Company News
>> Corning expects 2017 LCD glass demand will grow 16th,June,2017
Glass substrate manufacturers Corning estimates, 2017 LCD glass demand growth rate will reach about 5%, the company estimates in 2017 Corning the first quarter of the glass production compared to the same period in 2016 will grow, the rate of about 15%, although Compared with the fourth quarter of 2016, glass production will decline, but still show off-season is not light.
Corning's chairman, chief executive and president, Wendell P. Weeks, said: Corning's performance in the fourth quarter of 2016 was extremely outstanding, continuing the momentum at the beginning of the year. Including core revenue, core earnings and core earnings per share, were up 6%, 24% and 47% respectively over the same period in 2015, and it is expected that these figures will grow in the first quarter of 2017.
In the fourth quarter of 2016, the core revenue was $ 904 million, unchanged from the same period in 2015, but the core earnings grew 18% to $ 276 million; 2016 year showed the core of the technology group Revenue was about $ 3.6 billion and core earnings were $ 1 billion.
Corning pointed out that the 2016 LCD glass market and the demand for Corning glass growth rate of about 5%. Corning 2016 annual glass prices continued to slow down.
Corning expects the 2017 annual retail market and the growth rate of demand for glass will reach about 5%. The company estimates that the first quarter of 2010, Corning's glass production will grow in the same period in 2016, with an increase of about 15%, compared with the fourth quarter of 2016, the decline in the middle of the median. The company expects 2017 LCD glass prices decline will be more slow than in 2016
Optical communications business group in the fourth quarter of 2016 revenue growth of 11%, the core earnings grew 85% over 2015. Corning said North American fiber-to-government solutions revenue growth coupled with manufacturing performance, so that profit better than the same period in 2015. Corning Optical Communications Group in 2016 revenue of about 30 billion US dollars, the core earnings of 297 million US dollars.
Optical communications business in the first quarter of 2017 revenue forecast will grow at least 25% over the same period in 2016. 2017 annual revenue is expected to grow from 2016 to 10-digit front (low-teens percentage).
Environmental technology business group in the fourth quarter of 2016 and annual revenue compared to the same period in 2015 compared to a slight decline. Among them, the global automotive market demand driven fourth quarter and annual vehicle light substrate strong revenue, but heavy diesel demand continues to be weak. 2016 annual revenue of 1 billion US dollars, the core surplus of 136 million US dollars.
Environmental technology business group in the first quarter of 2017 revenue is expected to be consistent with the same period in 2016, to maintain a slight decline; due to the continued advantage of the automotive market and heavy diesel demand reduction, 2017 annual revenue is expected to Consistent in 2016, slightly up. Corning's new gas particulate filter is expected to begin selling in the second half of 2017.
Benefited from Gorilla Glass's record high, the special materials business group in the fourth quarter of 2016 revenue growth over the same period in 2015 22%, core earnings growth of 48%; 2016 annual revenue of 1.1 billion US dollars, the core surplus $ 189 million.
Corning expects the first quarter of revenue in 2017 is expected to grow by more than 15% over the same period in 2016; Corning expects 2017 annual revenue to grow, and its growth rate will depend on customers using Gorilla Glass 5 and others Corning's time and degree of innovative products.
Corning Life Sciences Group in the fourth quarter of 2016 and annual revenue growth over the same period in 2015, the core earnings growth beyond revenue. Life science business group in the first quarter of 2017 and annual revenue is expected to grow, the rate of about less than 5%, beyond the forecast market growth rate.
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