8-KOther Events

CORNING INC /NY 8-K Report (Jul 22, 1996)

Filed July 22, 1996For Securities:GLW

Summary

This 8-K filing from Corning Inc./NY (GLW) on July 22, 1996, primarily serves as a notification of a change in the company's fiscal year end. The report indicates that Corning has elected to change its fiscal year end from December 31st to March 31st, effective for the fiscal year ending March 31, 1997. This change will result in a transition period that spans from January 1, 1996, to March 31, 1997. Investors should note that this change in reporting periods will impact the comparability of financial statements for the upcoming fiscal year, requiring careful review of the provided financial data during this transition. The filing itself does not contain specific financial results but focuses on the administrative and procedural adjustment to the company's reporting calendar.

Key Highlights

  • 1Corning Inc./NY (GLW) has officially changed its fiscal year end.
  • 2The new fiscal year end will be March 31st, moving from the previous December 31st.
  • 3This change is effective for the fiscal year ending March 31, 1997.
  • 4A transition period will occur from January 1, 1996, to March 31, 1997.
  • 5This transition period will create a longer than usual reporting period for that year.
  • 6Investors should be aware of the impact on financial statement comparability due to the extended reporting period.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally notify the SEC and investors about Corning Inc.'s decision to change its fiscal year end from December 31st to March 31st.

The new fiscal year end of March 31st will be effective for the fiscal year ending March 31, 1997.

Yes, there will be a transition period from January 1, 1996, to March 31, 1997. This means the company will report on a 15-month period for that fiscal year, which is longer than a standard 12-month fiscal year.

Investors should be aware that the financial statements for the transition period (January 1, 1996 - March 31, 1997) will cover 15 months, making direct period-over-period comparisons with previous fiscal years challenging. Careful attention will be needed when analyzing financial performance during this extended reporting cycle.