![](https://hugin.info/155653/I/1676592/28296.jpg)
Corning® Gorilla® Glass could double in
sales
Telecommunications poised
for significant growth
CORNING, N.Y., February 8,
2013 - Extending Corning Incorporated's (NYSE: GLW)
current and emerging innovations into new markets is key to
capturing significant new growth opportunities, Wendell P. Weeks,
chairman, chief executive officer and president, will tell
attendees at Corning's annual investor meeting today in New
York.
In opening the meeting, Weeks will remind
investors that Corning's strategy calls for growth primarily
through global innovation across a balanced product portfolio. He
will point out that the company offers both strength and stability
to investors. "We're financially sound. We are the market and
technology leader in the industries we serve, as well as the
lowest-cost producer for most of our products. Our businesses are
all tied to significant trends, and our business diversity helps
reduce our volatility during market and economic upsets.
"We offer strong cash flow, a reliable dividend,
and the earnings power to invest in growth. And, we have the
opportunity for exceptional growth outside of our existing
businesses," Weeks will say.
Innovations with Breakout
Potential
Corning continues to focus on breakthrough innovations while also
leveraging existing capabilities and assets to enter new markets
and generate quick returns. "Let me illustrate," Weeks will offer.
"When we launched Gorilla Glass in 2007, we basically created the
market for tough, durable cover glass. Today, Gorilla Glass is
featured on 1 billion devices worldwide. It is Corning's
second-most-profitable business and the fastest-growing product in
Corning's history."
He will point out that "Our Gorilla Glass business
has the potential to more than double in sales over the next
several years," with three major trends driving this opportunity:
smartphone volume growth expected to double and tablet computers to
triple by 2016; large screen sizes for electronic devices using
more cover glass; and touch technology moving to notebook
computers, creating an entirely new opportunity.
Additionally, he will explain to investors that
Corning plans to bring forward new glass innovations for the
consumer electronics market, including optimized touch and Radio
Frequency (RF) capabilities; aesthetically pleasing shaped devices;
and anti-reflectivity and antimicrobial properties. "We plan to
have commercial launches for our shaped, anti-reflective, and
antimicrobial Gorilla Glass solutions this year," he will reveal.
Future of Display
Technologies
"We are rapidly trending toward an 'always on' world, a world in
which we can access information and communicate whether we're in
our homes, in transit, or at our desks," James P. Clappin,
president of Corning Glass Technologies, will tell meeting
attendees. Clappin will explain that television trends, including
larger screen sizes and faster replacement cycles, coupled with
dynamic growth in high-performance tablets and smartphones "will
continue to drive growth in the LCD glass market going
forward."
"Corning's advanced glass solutions support the
intuitive, touch-enabled interfaces, as well as the
high-resolution, and ultra-thin form factor requirements of this
next wave of innovations in display," he will say.
He also will note, "Many technological
advancements first emerge in smaller applications like smartphones
or tablets, and Corning's other advanced glasses are poised to
address key display industry trends in these markets."
Corning® Lotus(TM)
Glass is designed to offer superior performance for
higher-resolution LCDs as well as OLEDs. Clappin will emphasize
that the company remains optimistic about the OLED market, noting
"all manufacturers making or developing OLED devices are relying on
designs with two pieces of glass." In addition, Clappin will remind
investors that Corning's newest advanced glass solution, the
ultra-slim, flexible Corning® Willow(TM)
Glass, "could be the key that unlocks a host of next-generation
displays."
Corning® Gorilla® Glass
Applications
"Our outlook for Gorilla Glass is very positive," Clappin will say.
"We have already surpassed $1 billion in annual sales last year,
and now the new functionality of Gorilla Glass 3, in combination
with significant consumer electronics growth trends, could enable
the business to double in size over the next several years."
The near future in consumer electronics, Clappin
will explain, should bring increased penetration of the smartphone
as the handheld device of choice; a 30% increase in screen size; a
doubling of the popularity of tablet devices over the next four
years; and touch applications emerging on notebook computers.
Corning also sees growth possibilities for Gorilla
Glass beyond the consumer electronic space. Clappin will tell
investors, "The same qualities that make Corning Gorilla Glass so
popular in the display category also afford us new opportunities in
adjacent markets: transportation, interior architecture,
appliances, and large-format displays."
Telecommunications
Citing potential 2013 double-digit growth in Corning's
Telecommunications Business Group, Clark S. Kinlin, executive vice
president, will explain that the increasingly always-on world "is
straining communication networks and providing tremendous
opportunities for Corning."
Rapidly expanding data storage requirements,
ubiquitous access to that data, and quadrupling bandwidth demand
all push the limits of existing networks, requiring major
investments in optical infrastructure to meet consumer
expectations. Kinlin will explain that Corning is able to bring
together its market leadership in optical fiber, cable, connectors,
hardware and actives to develop high-value optical solutions that
expand bandwidth capacity and reduce costs for customers.
Looking across his major business areas, Kinlin
will explain that the global optical fiber market is expected to
exceed 250 million fiber kilometers in 2013. The bulk of this
growth is expected to come from developing markets. In positioning
the company to address one of the key emerging markets, Corning
opened a new fiber manufacturing facility in India last year.
Providing a full suite of solutions across a wide
range of application spaces, Corning continues to expand its
Pretium EDGE(TM) solution for data centers; provides cost-effective
pre-connected solutions for major fiber-to-the-home deployments
around the globe; extends its distributed antenna systems for
mobile access at large public-venue environments; and now offers
Optical(TM) Cables by Corning, which enable consumers to have
lightning-fast data transfer speeds over distances that greatly
exceed the length limits of copper-based cables.
Environmental
Technologies
The advancement of regulations aimed at improved air quality around
the world can help grow Corning's Environmental Technologies
profitability by more than 10% over the next several years, Mark A.
Beck, executive vice president for Corning's Environmental
Technologies and Life Sciences Business Group, will tell investors.
He will explain that new "clean air" initiatives in China and
India, along with tightening regulations in Europe and the U.S.,
should contribute to the anticipated growth in both light-duty
substrates and heavy-duty products.
Looking forward, Beck will point out that Corning
is sampling new technologies to address: automotive emissions
standards for improved fuel efficiency engines; expanded
regulations impacting marine and locomotive regulations; and
applications to help reduce greenhouse gas emissions.
Life
Sciences
Corning's Life Sciences business is approaching $1 billion in
annual sales, driven in large part by its recent acquisitions which
have strengthened its global product and customer base. "We now
have a broad portfolio of products that positions us well for the
next wave in healthcare. Central to this is a trend toward
biological therapies, which take a patient's unique environmental,
behavioral, and medical needs into account. As a pioneer in cell
culture research, we are well-positioned to address the emerging
bioprocessing market," Beck will say.
Path to a more Balanced
Company
James B. Flaws, vice chairman and chief financial officer, will
reiterate the confidence Corning's management has in its
expectations for continued sales and earnings growth for the
company. The three trends of seamless, real-time information
delivery, cleaner air, and advances in medical technology "are
driving our growth now and will continue to do so over the next
several years." He will point out that a large portion of this
growth should come from emerging markets such as China, India, and
Brazil.
He will also note the important role that Dow
Corning Corporation (an equity company) plays in Corning's future.
"Dow Corning is an important contributor to our long-term growth,
stability, and balance. Dow Corning remains the world leader in
silicon and polysilicon production, as they focus on high-value,
high-growth opportunities and make significant advances in
expanding their geographic reach." He will also acknowledge that
Dow Corning's Hemlock Semiconductor Group, will negatively impact
Corning's equity earnings in the near future, as it addresses the
tumultuous market conditions in the global solar industry.
Flaws will review other important factors driving
the company's financial performance: foreign exchange rates could
continue to impact Corning's results; the company's solid plan to
manage its positive cash flow through debt repayment and
reinvestment in the company's future through capital spending of
$1.3 billion in 2013; and the potential for additional returns to
shareholders in the form of increased dividends or another share
repurchase plan in the future.
Conference Broadcast
Information
Corning's annual investor meeting will be held on Friday, Feb. 8 at
Cipriani, located at 110 E. 42nd Street, New York. Corning's
products and technologies will be on display from 8 until 9 a.m.
and from 11 a.m. until 12 p.m. EST. Corning will make the
presentation at its annual investor conference available to the
public through a video and audio webcast and telephone access. The
broadcast will begin at 9 a.m. EST. The dial-in number is
877-430-4662 (U.S.) or 224-357-2218 (International). The call title
is Corning Incorporated 2013 Investor Meeting. A replay of the call
will be available at 1 p.m. EST and will run through 5 p.m. EST on
Tuesday, Feb. 12, 2013. To access the replay, dial 855-859-2056
U.S. or 404-537-3406 International. The confirmation code is
75706989. The webcast will be archived for one year following the
call.
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 net income and EPS
measures exclude restructuring, impairment and other charges and
adjustments to prior estimates for such charges. Additionally, the
company's non-GAAP measures exclude adjustments to asbestos
settlement reserves, gains and losses arising from debt
retirements, charges or credits arising from adjustments to the
valuation allowance against deferred tax assets, equity method
charges resulting from impairments of equity method investments or
restructuring, impairment or other charges taken by equity method
companies and gains from discontinued operations. The company
believes presenting non-GAAP net income and EPS measures is helpful
to analyze financial performance without the impact of unusual
items that may obscure trends in the company's underlying
performance. Reconciliation of these non-GAAP measures can be found
on the company's Web site by going to
www.corning.com/investor_relations and clicking Financial Reports
on the left. Reconciliation also accompanies this news release.
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 160 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.
Media Relations
Contact:
Daniel F. Collins
(607) 974-4197
collinsdf@corning.com
Investor Relations
Contact:
Ann H.S. Nicholson
(607) 974-6716
nicholsoas@corning.com
Follow
Corning: RSS
Feeds | Facebook | Twitter | YouTube
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Corning Incorporated via Thomson Reuters ONE
HUG#1676592
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