Flaws will meet with investors in Boston, Mass., on June 15 to discuss the company's progress on its three leadership priorities for 2004: protecting the financial health of the company; improving profitability; and investing in the future.
During the meetings, the company will reiterate its 2004 second-quarter guidance of revenues in the range of $900 million to $950 million, with earnings per share in the range of $0.07 to $0.09, before special items. This estimate is a non-GAAP financial measure and is reconciled on the company's investor relations Web site.
Weeks and Flaws will also tell investors that the company's three near-term growth initiatives: fiber in the local access network, or fiber to the premises; emission control for products in heavy-duty and light-duty diesel engines; and the expanding market for liquid crystal display (LCD) glass each represent a significant opportunity for Corning. "Corning leads the LCD glass industry in technology innovation and is poised to increase its leadership with the transition to larger size glass panels," Weeks will say. "Corning was the first with Generation 5 and Generation 6 glass, and is gearing up to deliver Generation 7 glass," he will remark.
Weeks will add that volume growth for Corning's wholly-owned business is expected to exceed 50 percent this year, outpacing general industry growth. "Growth is being driven primarily by the industry's migration to larger generation glass and the continued penetration to LCD monitors for the desktop computer market," Weeks will say.