Chairman and Chief Executive Officer Wendell P. Weeks will also participate in a similar discussion with investors at the JP Morgan Technology and Telecommunications Conference in Boston on May 21. Flaws and Weeks will address questions posed by investors and discuss the company's expectations for continued growth and profitability in 2007 at both meetings. The company will confirm its previously disclosed second-quarter guidance.
Corning executives will also update the company's liquid crystal display (LCD) glass market growth expectations for 2008. The company now expects the 2006 to 2008 cumulative annual growth rate for LCD glass demand to be about 32 percent, versus its previous estimate of 30 percent. The company's estimate for LCD glass market volume growth for 2007 remains unchanged at 35 to 40 percent. The higher growth forecast for 2008 is the result of stronger LCD TV penetration expectations. Corning now anticipates the penetration rate of LCD TVs to be about 47 percent in 2008, versus its previous estimate of 45 percent.