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Corning reiterates 4Q 2004 outlook

Diversified technology company Corning Inc. reiterated on 15 November 2004 its forecast for the 4Q 2004, saying it believes demand for liquid crystal displays will increase as retail prices continue t…

Diversified technology company Corning Inc. reiterated on 15 November 2004 its forecast for the 4Q 2004, saying it believes demand for liquid crystal displays will increase as retail prices continue to come down as the holiday season begins. The company said it still sees adjusted quarterly earnings of USD 0.10 to USD 0.12 per share on revenue of USD 950 million to USD 1 billion. A poll of analysts currently predict a profit of USD 0.12 per share on USD 995 million in sales, up from 2003 earnings of USD 0.04 on USD 820 million in revenue. In a press release ahead of investor meetings, Corning said it expected LCD sales volume to increase by 3% to 10% sequentially, and added that the company“s 2005 expansion plan remains on course despite recent decisions by other LCD manufacturers to delay capital expenditures because of over-capacity.

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