GLW Corning Inc

Corning Incorporated (NYSE: GLW) Chief Operating Officer Peter F. Volanakis will discuss the company's growth opportunities during meetings with investors today and in a presentation to investors at the UBS 10th Annual Global Communications Conference in New York tomorrow, Nov. 15. Volanakis will reaffirm the company's fourth-quarter guidance and provide an update on Corning's growth areas. "We continue to expect fourth-quarter sales for the company to be in the range of $1.18 billion to $1.24 billion and earnings per share (EPS) of $0.21 to $0.23, excluding special items," Volanakis will say. This EPS estimate is a non-GAAP financial measure and is reconciled on the company's investor relations Web site. Volanakis will reiterate to investors that the company expects sequential unit volume for its Display Technologies segment in the fourth quarter to be up 3 percent to 10 percent and that sequential pricing is expected to be down slightly. He will also confirm previously announced expectations for the company's Telecommunications segment, including sequential sales volume of down 4 percent to 7 percent; sequential fiber and cable sales down 10 percent to 15 percent; and sequential hardware and equipment sales consistent with the third quarter. Corning management will also be meeting with investors in Toronto on Monday, Nov. 28. Investors interested in attending a lunch meeting in Toronto should contact Corning's investor relations department at (607) 974-8764. Corning's presentation to investors at UBS 10th Annual Global Communications Conference will be available via webcast through the investor relations events calendar on Corning's Web site at www.corning.com/investor_relations. Presentation of Information in this News Release Non-GAAP financial measures are not in accordance with, or an alternative to, GAAP. Corning's non-GAAP EPS measure excludes restructuring, impairment and other charges and adjustments to prior estimates for such charges. Additionally, the company's non-GAAP measure excludes adjustments to asbestos settlement reserves required by movements in Corning's common stock price, gains and losses arising from debt retirements, charges resulting from the impairment of equity or cost method investments and gains or losses recognized in equity earnings from restructuring, impairment or other charges or credits taken by equity method companies. The company believes presenting a non-GAAP EPS measure is helpful to analyze financial performance without the impact of unusual items that may obscure trends in the company's underlying performance. This non-GAAP measure is reconciled on the company's Web site at www.corning.com/investor_relations. About Corning Incorporated Corning Incorporated (www.corning.com) is a diversified technology company that concentrates its efforts on high-impact growth opportunities. Corning combines its expertise in specialty glass, ceramic materials, polymers and the manipulation of the properties of light, with strong process and manufacturing capabilities to develop, engineer and commercialize significant innovative products for the telecommunications, flat panel display, environmental, semiconductor, and life sciences industries. Forward-Looking and Cautionary Statements This press release contains forward-looking statements that involve a variety of business risks and other uncertainties that could cause actual results to differ materially. These risks and uncertainties include the possibility of changes or fluctuations in global economic and political conditions; tariffs, import duties and currency fluctuations; product demand and industry capacity; competitive products and pricing; manufacturing efficiencies; cost reductions; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; capital spending by larger customers in the liquid crystal display industry and other businesses; changes in the mix of sales between premium and non-premium products; facility expansions and new plant start-up costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political instability or major health concerns; ability to obtain financing and capital on commercially reasonable terms; adequacy and availability of insurance; capital resource and cash flow activities; capital spending; equity company activities; interest costs; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; changes in key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are identified in Corning's filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.