Tranche Update on Corning Incorporated's Equity Buyback Plan announced on April 26, 2018.
July 27, 2021 at 04:54 pm EDT
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From April 1, 2021 to April 30, 2021, the company has repurchased 7,289,096 shares, representing 0.95% for $317 million. With this, the company has completed the repurchase of 62,514,753 shares, representing 8% for $2,000 million under the buyback announced on April 26, 2018.
Corning Incorporated is the world leader of the production and the marketing of substrata of glass and ceramic of specialty. Net sales break down by market as follows:
- telecommunications (29.6%): products of fiber optical, cables, etc. for networks of communication;
- electronic large public (26%): glass substrata intended for screens of televisions sets LCD, PC and laptops;
- environment (13%): substrata of ceramic and filters intended for systems fight against vehicles emissions;
- life science (7.1%): in particular optical biosensors for pharmaceutical research;
- other (24.3%): solutions based on plastic and glass of specialty intended notably to the sectors of semiconductors, aerospace, defense, astronomy and metrology.
Net sales are distributed geographically as follows: the United States (32.7%), North America (3%), Asia/Pacific (51.5%), Europe (11.3%) and other (1.5%).