Corning COO to Address Investors at J.P. Morgan Technology Conference
17 Maio 2010 - 9:00AM
Business Wire
Corning Incorporated (NYSE: GLW) President and Chief Operating
Officer Peter F. Volanakis will tell investors today that “all of
our businesses, including our equity ventures, are on track with
our expectations for the second quarter” when he speaks at the J.P.
Morgan Technology Conference in Boston at 8:40 a.m. Corning’s
comments at the conference can be heard via webcast at
www.corning.com/investor_relations.
Industry data indicates that retail demand for LCD TVs,
notebooks, and monitors remains robust. April LCD TV unit sales
increased 13% in the U.S. over last year. Similarly, unit sales in
Europe and Japan increased 22% and 44%, respectively. “These growth
rates continue to run ahead of our internal forecasts,” Volanakis
will say. The retail data is the result of reports from a variety
of independent consumer market research organizations (NPD, GFK and
CMM) and the company’s internal analysis.
In China, LCD TV demand appears to remain strong as well. “We do
not yet have April retail data for China, but there are no
indications that consumers’ appetite has abated,” Volanakis will
say. “Incentive programs continue and retail prices are very
attractive. As a result, we still see 37 million LCD TV unit sales
in China this year.”
The company will note that second-quarter display volume
expectations of mid-single-digit sequential growth for both its
wholly owned business and Samsung Corning Precision Glass Co.,
Ltd., have not changed. Price declines are expected to be down
slightly sequentially. Volanakis will add, “The operating
performance within our Display Technologies segment has been
excellent.”
Volanakis will also comment that
Corning’s Telecommunications segment remains on track
with the company’s previous guidance of a 10% to 15% sequential
increase. The business is experiencing very strong seasonal demand
for both fiber and cable in North America and Europe driven by very
strong pull from new private network builds, as well as from the
start of a fiber-to-the-home ramp in Canada. Second-quarter sales
in the Specialty Materials segment are expected to be in line with
the company’s guidance of a 15% to 25% increase over quarter one,
primarily driven by Gorilla® glass. Sales in both
the Environmental Technologies segment and the Life
Sciences segment are also on pace with the company’s guidance for
the quarter.
Corning's comments to investors at the J.P. Morgan Technology
Conference will be available by accessing the IR events calendar on
Corning's Web site. To access the calendar, go to
www.corning.com/investor_relations and click Investor Events on the
left.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within
the meaning of the Private Securities Litigation Reform Act of
1995), which are based on current expectations and assumptions
about Corning’s financial results and business operations, that
involve substantial risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties
include: the effect of global political, economic and business
conditions; conditions in the financial and credit
markets; currency fluctuations; tax rates; product demand
and industry capacity; competition; reliance on a concentrated
customer base; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; pricing fluctuations and changes in
the mix of sales between premium and non-premium products; new
plant start-up or restructuring costs; possible
disruption in commercial activities due to terrorist activity,
armed conflict, political or financial instability, natural
disasters, adverse weather conditions, or major health concerns;
adequacy of insurance; equity company activities; 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; retention of key
personnel; stock price fluctuations; and adverse litigation or
regulatory developments. These and other risk factors
are detailed 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.
About Corning Incorporated
Corning Incorporated (www.corning.com) is the world leader in
specialty glass and ceramics. Drawing on more than 150 years of
materials science and process engineering knowledge, Corning
creates and makes keystone components that enable high-technology
systems for consumer electronics, mobile emissions control,
telecommunications and life sciences. Our products include glass
substrates for LCD televisions, computer monitors and laptops;
ceramic substrates and filters for mobile emission control systems;
optical fiber, cable, hardware & equipment for
telecommunications networks; optical biosensors for drug discovery;
and other advanced optics and specialty glass solutions for a
number of industries including semiconductor, aerospace, defense,
astronomy and metrology.
Follow
Corning: Facebook | Twitter | YouTube
Corning (NYSE:GLW)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Corning (NYSE:GLW)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024