CORNING, N.Y. (AP) — CORNING, N.Y. (AP) — Corning Inc. (GLW) on Tuesday reported a loss of $40 million in its fourth quarter.
On a per-share basis, the Corning, New York-based company said it had a loss of 5 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to 39 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The specialty glass maker posted revenue of $2.99 billion in the period. Its adjusted revenue was $3.27 billion, exceeding Street forecasts. Six analysts surveyed by Zacks expected $3.26 billion.
For the year, the company reported profit of $581 million, or 68 cents per share. Revenue was reported as $13.58 billion.
For the current quarter ending in March, Corning expects its per-share earnings to range from 32 cents to 38 cents.
The company said it expects revenue in the range of $3.1 billion for the fiscal first quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLW at https://www.zacks.com/ap/GLW