CORNING FOURTH-QUARTER EARNINGS: 45 CENTS PER SHARE POST-SPLIT BASIS; 90 CENTS PER SHARE PRE-SPLIT
CORNING FOURTH-QUARTER EARNINGS: 45 CENTS PER SHARE
POST-SPLIT BASIS; 90 CENTS PER SHARE PRE-SPLIT
CORNING, N.Y., Jan. 21 /PRNewswire/ -- Corning Incorporated (NYSE: GLW) today noted that the Tuesday, Jan. 21, edition of the Wall Street Journal's "Abreast of the Market" column, inaccurately reflected the company's fourth-quarter performance and analysts' expectations thereof.
According to the story, Corning's earnings "were significantly lower than expectations," but the reported fourth-quarter, at 45 cents a share represents the company's earnings on a post-split basis. On a pre-split basis the earnings would be 90 cents per share -- in line with analyst expectations.
Corning announced Dec. 4 it would split its common stock on a 2-for-1 basis. Trading of Corning shares commenced Jan. 16 on the New York Stock Exchange on a "when issued" basis as well as a pre-split basis.
/CONTACT: Kathryn C. Littleton, 607-974-8206, or (investors) Stephen L. Albertalli, 607-974-8357, both of Corning/
(GLW) CO: Corning Incorporated ST: New York IN: SU: TS-FC -- NY037 -- 1713 01/21/92 10:26 EST