On Wednesday, Shares of Corning Incorporated (NYSE:GLW), gained 0.05% to $18.97.
Dow Corning Corp. declared that a silicone adhesive technology it recently developed alongside Delphi Automotive PLC has earned one of R&D Magazine’s prestigious 2015 R&D 100 Awards.
Dow Corning and Delphi received the award for Dow Corning® EA-7100 Adhesive, a product initially developed for Delphi, which was grappling with several adhesion challenges. The adhesive is based on novel silicone chemistry that significantly expands design options for automotive electronics and other applications by enabling strong bonds to a wide variety of substrates. Formulated with patented new silicone chemistry, Dow Corning EA-7100 Adhesive offers more options for designing next-generation electronics counting control units, sensors, lighting and display modules, and provides advantages such as greatly accelerated processing speed, and reduced energy use.
This award recognizes what Dow Corning does best every day working alongside customers to develop innovative silicone-based products that solve challenges and create opportunities for our customers to compete and win, said Ganesh Kailasam, senior vice president and chief technology officer. “While this technology is assisting advance the automotive electronics industry, there are countless other applications that could benefit.”
Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials worldwide. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences.
Finally, Shares of Masco Corp (NYSE:MAS), ended its last trade with 1.03% gain, and closed at $30.50.
Masco Corporation, stated operating profit growth and flat net sales in the third quarter of 2015. Adjusted operating margins expanded to 14 percent, representing a 190 basis point improvement over preceding year.
“We are happy with our third quarter financial performance and operating results,” said Masco’s President and CEO Keith Allman. “Our innovative products and programs, raised investment in our brands and consistent execution of our strategies drove our strong earnings performance. Furthermore, we reaffirmed our commitment to disciplined capital allocation by returning over $230 million to shareholders through dividends and share repurchases in the third quarter of 2015.”
2015 Third Quarter Commentary
- Net sales from ongoing operations were flat at $1.8 billion. North American sales raised 3 percent and international sales reduced 9 percent in U.S. dollars but raised 4 percent in local currency
- Contrast to third quarter 2014, results for key financial measures, as adjusted for certain items (see Exhibit A) and with a normalized tax rate of 36 percent, were as follows:
- Gross margins improved to 31.9 percent contrast to 30.0 percent
- Operating margins improved to 14 percent contrast to 12.1 percent
- Income from ongoing operations was $.34 per common share contrast to $.27 per common share
- Income from ongoing operations, as stated, was $.32 per common share
- Liquidity at the end of the third quarter was about $1.5 billion
- About 7.6 million shares were repurchased in the third quarter
Masco Corporation manufactures, distributes, and installs home improvement and building products worldwide. Its Cabinets and Related Products segment provides cabinetry for kitchen, bath, storage, home office, and home entertainment applications; and kitchen countertops, and integrated bathroom vanity and countertop solutions.
