Corning Inc., counted among the world's top ranked makers of glass for flat-screen televisions, has posted its third quarter reports according to which the company has managed to beat all estimates by analysts and post profits which are much better than expected.

The New York based company has shared that profits made were at a rate of 42 cents per share. This has gone much beyond an estimate made by analysts in a Bloomberg survey which pegged the rate of each share at 39 cents.

News of profits have come after a long wait for Corning, which had been hit hard by the recession and had posted four consecutive losses filled quarterly reports. The profits, while very promising, are still much less as compared to last year's, where each company share was at 49 cents.

Despite not being as high as last year's, the profits are being taken as a good sign by Corning as well as analysts and investors.