Glass titan Corning reported earnings per share of 0.51,versus an estimate of 0.52;on revenue of 1.6 billion dollars,versus an estimate of 1.614 billion.Chief Financial Officer Jim Flaws says all of their businesses other than display were up.The U.S. is the only worldwide T.V. demand that declined.Everywhere else is up 20-70%.
Corning's focus is driving down their manufacturing costs.They're not a high raw materials user.
Corning's display business volume was down because their customers were reducing inventory.Their Chinese growth isn't red hot,but demand there is quite strong.It's still excellent,Mr.Flaws noted.
Corning is a global leader in specialty glass and ceramics.They create and produce key components for consumer electronics,vehicle emissions control,telecom and life sciences.
Corning(GLW)
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