Reuters
Corning on track to meet 1st-quarter targets
Monday March 8, 8:51 am ET
NEW YORK, March 8 (Reuters) - Corning Inc. (NYSE:GLW - News), the world's largest maker of fiber-optic cable, on Monday said it is on track to meet its first quarter earnings targets and sees better-than-expected demand for glass used in liquid crystal displays.
The Corning, New York, company repeated its forecast for a quarterly profit of 4 cents to 5 cents a share before one-time items, on revenue of $770 million to $830 million.
"The company is experiencing stronger-than-expected demand for LCD glass products during the first quarter," it said in a statement. It expects volume to increase 10 percent from the fourth quarter amid stable pricing. Its earlier forecast was for 5 percent to 10 percent volume growth.
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