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Gorilla Glass maker Corning's revenue falls 5 pct

Post Time:Oct 28,2015Classify:Company NewsView:245

Oct 27 (Reuters) - Corning Inc, the supplier of Gorilla Glass to Apple Inc, reported a 5.1 percent fall in quarterly revenue, hurt by a weak global economy and a strong dollar.

The company's net income fell to $212 million, or 15 cents per share, in the third quarter ended Sept. 30, from $1.01 billion, or 72 cents per share, a year earlier.

Corning said core net sales fell to $2.45 billion from $2.58 billion.

"The weakening global economy, particularly in China, and the stronger U.S. dollar impacted all of our businesses," Tony Tripeny, Corning's chief financial officer, said in a statement on Tuesday.

The company also increased its share repurchase authorization by $4 billion.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila)

Source: http://finance.yahoo.com/news/gorilla-glass-maker-Author: shangyi

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