Corning cuts 3Q 2006 targets

Corning Inc. has lowered the top end of its 3Q 2006 revenue target and reduced its expectations for glass sales at its LCD substrate joint venture with Samsung Electronics Co. Corning shifted its rang…

Corning Inc. has lowered the top end of its 3Q 2006 revenue target and reduced its expectations for glass sales at its LCD substrate joint venture with Samsung Electronics Co. Corning shifted its range of revenue expectations for the quarter ending in September to USD 1.27 billion to USD 1.31 billion from a previous range of USD 1.26 billion to USD 1.33 billion. Targets for LCD glass sales at Samsung Corning Precision Co. Ltd. changed as well, from earlier expectations of 5% to 15% growth to a current range of 8% to 12%. At its wholly-owned Display Technologies business, Corning raised the low end of LCD glass volume growth from 5% to 10%.