Corning Earnings: Large Screen TVs, FTTH And Gorilla Glass Drive Corning's Top Line

The company reported 23% year-on-year growth in GAAP revenues, to cross $2.4 billion, driven by its Display Technologies, Optical Communications and Specialty Materials segments. Its Life Sciences and Environmental Technologies segments grew in low and mid-single digits, respectively. Corning's net profits increased a staggering 135% primarily due to the integration of Corning Precision Materials, an increase in income from foreign currency transactions and hedging gains.