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ROCHESTER, N.Y. (AP) - Corning Inc., benefiting from soaring demand for ultra-thin glass used in flat-screen computers and televisions, posted a $203 million profit in the third quarter in contrast to a loss of nearly $2.5 billion a year ago.
The industrial materials maker said Wednesday it earned the equivalent of 13 cents a share in the July-to-September period. That compared with a loss of $2.49 million, or $1.78 a share, in last year's third quarter when it was hit with $2.7 billion in restructuring, asbestos litigation and other charges.
Excluding one-time charges of $202 million, or 13 cents a share, Corning's profit was 26 cents a share. That beat the consensus forecast of 21 cents a share among analysts surveyed by Thomson Financial.
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