Corning Earns Soar In 1Q On TV Glass Demand

Date: 3 May 2010
Source: Google.com

Date: 3 May 2010

ROCHESTER, N.Y. — Corning Inc. said Wednesday its profit soared to $816 million in the first quarter on surging sales of LCD glass for flat-panel televisions and computers and highly durable cover glass for cell phones and handheld video devices.

The world's largest maker of liquid-crystal-display glass said it expects robust demand for LCD-TVs, laptops and desktop computers, along with an improved retail outlook for those consumer electronics products, will bump up LCD glass industry volume in 2010. The glass pioneer, which commands nearly two-thirds of the LCD glass market, now expects volume to reach 2.9 billion to 3.1 billion square feet in 2010, up as much as 27 percent from 2.45 billion square feet in 2009.It previously forecast a range of 2.8 billion to 3 billion square feet this year.
 
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