SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: (Date of earliest event reported) July 8, 1999
CORNING INCORPORATED
(Exact name of registrant as specified in its charter)
New York 1-3247 16-0393470
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
One Riverfront Plaza, Corning, New York 14831
(Address of principal executive offices) (Zip Code)
(607) 974-9000
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CORNING INCORPORATED
Registrant
Date: July 8, 1999 By /s/ KATHERINE A. ASBECK
Katherine A. Asbeck
Vice President and Controller
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Item 5. Other Events.
In response to numerous requests, set forth below is Corning's segment
information by quarter for 1997 in accordance with Financial Accounting
Standard No. 131, "Disclosures about Segments of an Enterprise and Related
Information".
Exhibit 1
<PAGE>
Exhibit 1
<TABLE>
<CAPTION>
Three Months Ended Year Ended
-------------------------------------
March 31, June 30, Sept. 30, Dec. 31, Dec. 31,
1997 1997 1997 1997 1997
--------- -------- --------- -------- --------
<S> <C> <C> <C> <C> <C>
Telecommunications
Net sales $406.9 $468.6 $458.9 $460.9 $ 1,795.3
Income from continuing
operations before
minority interest
and equity earnings $ 75.8 $ 88.0 $ 73.7 $ 69.8 $ 307.3
Minority interest
in earnings of
subsidiaries (7.3) (12.3) (12.3) (14.1) (46.0)
Equity in earnings
of associated
companies 7.6 11.3 10.8 6.5 36.2
------ ------ ------ ------ ---------
Segment net income $ 76.1 $ 87.0 $ 72.2 $ 62.2 $ 297.5
====== ====== ====== ====== =========
Advanced Materials
Net sales $252.8 $254.6 $258.5 $264.5 $ 1,030.4
Income from continuing
operations before
minority interest
and equity earnings $ 21.7 $ 22.6 $ 21.8 $ 23.7 $ 89.8
Minority interest
in earnings of
subsidiaries 0.3 0.1 (0.1) 0.4 0.7
Equity in earnings
of associated
companies 2.1 4.5 2.8 3.7 13.1
------ ------ ------ ------ ---------
Segment net income $ 24.1 $ 27.2 $ 24.5 $ 27.8 $ 103.6
====== ====== ====== ====== =========
Information Display
Net sales $151.8 $175.9 $169.2 $167.3 $ 664.2
Income from continuing
operations before
minority interest
and equity earnings $ (2.9) $ 8.3 $ 6.9 $ 4.1 $ 16.4
Minority interest
in earnings of
subsidiaries (5.3) (8.7) (10.5) (6.5) (31.0)
Equity in earnings
of associated
companies (1.9) 5.1 12.6 5.9 21.7
------ ------ ------ ------ ---------
Segment net income $(10.1) $ 4.7 $ 9.0 $ 3.5 $ 7.1
====== ====== ====== ====== =========
Total segments
Net sales $811.5 $899.1 $886.6 $892.7 $ 3,489.9
Income from continuing
operations before
minority interest
and equity earnings $ 94.6 $118.9 $102.4 $ 97.6 $ 413.5
Minority interest
in earnings of
subsidiaries (12.3) (20.9) (22.9) (20.2) (76.3)
Equity in earnings
of associated
companies 7.8 20.9 26.2 16.1 71.0
------ ------ ------ ------ ---------
Segment net income $ 90.1 $118.9 $105.7 $ 93.5 $ 408.2
====== ====== ====== ====== =========
</TABLE>
These amounts do not include revenues, expenses and equity earnings not
specifically identifiable to segments.
