A 68% rise in Gorilla Glass sales helped Corning Incorporated to post record fourth quarter results.
The company’s fourth quarter total sales were $2.15 billion - a 14% year-over-year increase and the largest quarterly sales in its history.
The quarter performance was ignited by consumer sales of handheld and IT devices containing Corning Gorilla Glass, which totalled $399 million.
A decline of 6% was seen in the Environmental Technologies segment, with sales of $219 million; the result of reduced demand for light-duty and heavy-duty diesel products.
Whereas, in the Life Sciences quarter segment sales were $185 million; a 29% increase year-over-year. The growth was driven primarily by increased sales from the recent acquisition of the majority of the Discovery Labware business.
James B. Flaws, Vice Chairman and Chief Financial Officer, said: “We are not without challenges in 2013 as we continue to face an uncertain global economy, but we enter the year with prospects for growth in Specialty Materials, Telecommunications, Environmental Technologies and Life Sciences.
“We have strong business momentum entering this year,” he continued. “We introduced our third version of Gorilla Glass in January 2013 and the acceptance was overwhelmingly positive. The expanding popularity of touch-enabled devices should present even greater opportunities for our market-leading cover glass solution.”
Mr Flaws also noted that the company has the potential to create several new high-growth market opportunities with Corning Willow Glass, an ultra-slim, flexible glass that will enable next-generation displays, touchscreens and other devices; and with its anti-microbial glass that reduces and kills drug-resistant bacteria and viruses.
Corning also sees significant future growth opportunities in the telecommunications market, with rapidly expanding demand for mobile technologies and optical fibre network expansions in developing markets.