Dow Corning reports Q4 sales $6.43B, adjusted net income down 15% vs. 2010
Adjusted net income excluded a gain on long-term sales agreements. Fourth quarter sales decreased 4% compared to fourth quarter 2010 as prices softened in the face of global economic volatility. Reports Q4 net income $260M, adjusted net income $76.8M. :theflyonthewall.com
Corning and Samsung Mobile Display have signed an agreement to establish a new equity venture for the manufacture of specialty glass substrates for the rapidly expanding organic light emitting diode device market. The new business will be located in Korea. Combining Corning's Lotus Glass substrate technology and Samsung Mobile Display's OLED display expertise, this new entity will be well-positioned to provide outstanding product solutions for current and future OLED technologies, from handheld and IT devices to large TVs and beyond. :theflyonthewall.com