Corning Incorporated announced results for the third quarter of 2007.

Third-Quarter Highlights

- Sales reached $1.55 billion, up 21% year-over-year.
- Earnings per share (both GAAP and non-GAAP) were $0.38, better than the company’s guidance of $0.34 to $0.37 and significantly better than last year.
- Display Technologies’ glass volume increased 15% and Samsung Corning  - Precision’s volume increased 14% compared to quarter two. Price declines in the quarter were in line with previous quarters.
- Sequentially, telecommunications sales increased 8% (10%* excluding the impact of the divestiture of the company’s submarine cabling business in the second quarter).

Fourth-Quarter Outlook Highlights

- Sales are expected in the range of $1.50 billion to $1.55 billion.
- EPS is expected in the range of $0.36 to $0.38 before special items.*
- Display volume is expected to be up 2% to 5% sequentially, and consistent with the overall glass market growth.
- Telecommunications sales are expected to decline about 10% sequentially, in line with normal seasonal patterns.

Wendell P. Weeks, chairman and chief executive officer, said, “Corning delivered a robust third quarter with excellent performance in our Display   Technologies and Telecommunications segments. As we expected, telecommunications sales improved in the quarter.”

Read the entire results here