April 24, 2018 / 11:24 AM / 7 months ago

BRIEF-Corning Reports Q1 Loss Per Share $0.72

April 24 (Reuters) - Corning Inc:

* REG-CORNING REPORTS FIRST-QUARTER 2018 FINANCIAL RESULTS AND CONTINUED PROGRESS ON STRATEGY AND CAPITAL ALLOCATION FRAMEWORK

* Q1 GAAP LOSS PER SHARE $0.72

* Q1 EARNINGS PER SHARE VIEW $0.30 — THOMSON REUTERS I/B/E/S

* QTRLY OPTICAL COMMUNICATIONS SEGMENT GAAP NET SALES WERE $886 MILLION VERSUS $818 MILLION REPORTED LAST YEAR

* QTRLY CORE EARNINGS PER SHARE $0.31

* QTRLY GAAP NET SALES $2,500 MILLION VERSUS $2,375 MILLION

* QTRLY SPECIALTY MATERIALS SEGMENT NET SALES WERE $ 278 MILLION VERSUS $300 MILLION

* CORNING - FOR 2018, OPTICAL COMMUNICATIONS SALES EXPECTED TO INCREASE BY ABOUT 10%, EXCLUDING CONTRIBUTION FROM PENDING ACQUISITION OF A 3M DIVISION

* COMPANY EXPECTS YEAR-OVER-YEAR SALES GROWTH FOR SPECIALTY MATERIALS IN 2018

* QTRLY DISPLAY TECHNOLOGIES SEGMENT NET SALES OF $745 MILLION VERSUS $782 MILLION

* NEXT GENERATION OF CORNING GORILLA GLASS REMAINS ON TRACK FOR LAUNCH DURING SECOND HALF OF 2018

* IMPROVEMENTS IN LCD GLASS PRICING ARE EXPECTED TO CONTINUE THROUGHOUT 2018

* Q1 REVENUE VIEW $2.49 BILLION — THOMSON REUTERS I/B/E/S

* CORNING-FOR FY 2018, CO EXPECTS LCD GLASS MARKET VOLUME GROWTH TO BE IN MID-SINGLE DIGIT PERCENTAGES, AS TELEVISION SCREEN SIZE GROWTH CONTINUES

* IN DISPLAY TECHNOLOGIES FOR FULL-YEAR 2018, EXPECTS CORNING’S VOLUME TO GROW FASTER THAN MARKET

* ON TRACK TO DELIVER BOTH NEAR- AND LONG-TERM GROWTH UNDER ITS ‘STRATEGY AND CAPITAL ALLOCATION FRAMEWORK’

* “COMPANY REAFFIRMS OUTLOOK FOR STRONG 2018” Source text for Eikon: Further company coverage:

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