CORNING, N.Y. (WENY) - Corning Incorporated released their 2022 sales report on Tuesday.

The report says core sales reached nearly $14.8 billion dollars, up 5 percent compared to 2021. The company also highlighted in the report that optical communications' annual sales reached 5 billion dollars, an all-time high.

Wendell P. Weeks, chairman and chief executive officer said: "I'm pleased with the sales growth we continue to deliver despite recession-level demand in markets constituting about half of our sales. However, our profitability and cash flow have lagged sales growth as a number of pandemic-driven effects continue to ripple across the global economy. In response, we took significant additional price and productivity improvement actions in the fourth quarter that will improve margins and cash generation starting this year."

According to the company's first quarter 2023 projections, they expect sales to go down due to pandemic related disruptions in China.