Fortune 500 rank: 414
While Corning's sales rose only 1.5% to $5.9 billion, profits were robust, growing a whopping 144.5% to $5.3 billion.
The jump in earnings was largely due to tax adjustments and credits as well as the performance of the Corning division that supplies glass for LCD screens for televisions and computers. But sales were down in the second half of last year as the global recession took hold.
The company expects the downward trend to continue in 2009.