Corning (GLW) - Get Report posted strong first-quarter numbers and raised its profit target for the current period.

The display-glass and fiber-optic cable maker posted a profit of $249 million, or 17 cents a share, on $1.05 billion in sales. Those numbers compare to a 12-cent profit on $1.03 billion in revenue in the prior quarter ended in December, and a nickel-a-share profit on sales of $844 million in the year-ago period.

Analysts were looking for earnings of 16 cents a share on $1.05 billion in revenue, according to a Reuters Research tally.

For the current quarter ending in June, Corning says it expects to post earnings of 18 cents on sales of between $1.08 billion and $1.13 billion. Wall Street had been anticipating guidance for a 15-cent profit on $1.1 billion in revenue for the second quarter.

"We are extremely pleased with our overall results and we believe that we are well positioned to take advantage of continuing growth opportunities," CEO Jim Houghton said in a press release.

The tech-glass maker said efficiency improved in its liquid-crystal display, or LCD, screen business, helping swell gross margin to 41% from 35% in the prior quarter ended in December.

Shipments of display glass used in flat panel TVs and computer monitors grew 35% over the year-ago period and in line with company guidance.

The company expects gross margins to be about 40% in the current quarter.

In postclose action, Corning rose 3 cents to $12.62.