Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Corning Incorporated    GLW   US2193501051

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Corning Incorporated : Corning Raises 4th-Quarter Outlook for LCD and Specialty Glass Sales Volume

11/27/2012 | 08:49am US/Eastern
   By Tess Stynes 
 

Corning Inc. (GLW) raised its fourth-quarter sales outlook for its specialty materials business amid stronger-than-anticipated demand for glass used in flat-panel televisions and special glass used in mobile devices.

Shares were up 7.5% at $12.22 in recent premarket trading. Through the close Monday, the stock is down 13% this year.

The company provided the outlook ahead of a technology conference Tuesday.

Corning now expects LCD glass-market volume will increase in the low single digits on a percentage basis from the third quarter, compared with its prior view for a decline in the low to mid-single digits.

The company also expects that specialty materials segment sales will increase 5% over third quarter levels, compared with its prior view for sales to be similar to the quarter earlier. Segment sales continue to be driven by sales of the company's so-called Gorilla glass, which are expected to soar roughly 60% during the period.

Corning expects that the growth in the LCD glass and Gorilla glass businesses should offset seasonal declines in its other business segments.

The company affirmed its views for its telecommunications and environmental technologies units, but now expects its life sciences segment revenue to increase more than 15% from the third quarter thanks to a recent acquisition, compared with its earlier expectations for a decline of about 5%.

Write to Tess Stynes at Tess.Stynes@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

React to this article
Latest news on CORNING INCORPORATED
2h ago CORNING : Assigned Patent
1d ago CORNING : Patent Issued for Methods for Forming Cladding Portions of Optical Fib..
1d ago CORNING : Patent Issued for OLEDs Comprising Light Extraction Substructures and ..
1d agoDJCorning Expects Charges Related to Dow Corning Venture
1d agoDJCorning Expects Charges Related to Dow Corning Venture
1d ago CORNING : NY : Other Events (form 8-K)
2d ago CORNING : Announces Quarterly Dividend Increase of 20% and a $1.5 billion Share ..
2d ago CORNING : to Present at Barclays Global Technology Conference
2d ago CORNING : Collaborates with Samsung to Slim the New Galaxy ALPHA Smartphone with..
2d ago CORNING : to Acquire TR Manufacturing, Inc
Advertisement
Chart
Duration : Period :
Corning Incorporated Technical Analysis Chart | GLW | US2193501051 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF