Conning first half net income from its optical communications business was $259M
Conning reported second quarter results from 2021, in which Conning reported core sales of $3.504 billion, up 35% from a year earlier, and net income of $459 million, up 111% from a year earlier. Of this total, the optical communications business recorded sales of US $1.075 billion, up 21 percent year on year, and net profit of US $148 million, up 83 percent year on year. In the first half of the year, 2021 posted sales of $2.012 billion, up 20 percent, and net income of $259 million, up 135 percent.
The Optical Communications Division has resumed growth as 5G, fiber to the home and cloud computing drive increased demand for corning's products. Conning outperformed market growth and addressed the toughest challenges facing customers. In the second quarter, the company launched the Khang Ninh SMF-28? CONTOUR FIBER is the first fiber to combine superior bending resistance, compatibility, and low loss. Conning also came out with EDGE? Fast Connection Solution to increase fiber core count and reduce customer installation time by up to 70% . Conning pointed out that the continued growth in the optical communications business was due in part to continued growth in both the corporate and carrier network markets. At the same time, 5g, fiber to the home and cloud computing projects continue to drive strong growth in the business segment. The pace of data center construction is accelerating, and our customers'capital expenditures are increasing, Conning said. Governments around the world are announcing and launching plans to expand broadband coverage. As a market leader and a supplier of large-scale end-to-end optical communication solutions, we are confident in the continued growth of our optical communications business.