Corning to take billions of dollars in charges

Date: 13 October 2004
Shares of Corning stocks are down six percent today after the upstate company announced it will take non-cash charges of nearly three (b) billion dollars against third-quarter results.Corning says the move comes as its telecommunications unit continues to struggle with industry sluggishness.

The materials company specializes in fiber-optic and glass products.

Corning recorded a 108 (m) million-dollar profit for the last quarter that beat Wall Street forecasts. A surge in sales of glass used in flat-screen computer monitors and televisions helped boost Corning's bottom line.

600450 Corning to take billions of dollars in charges
Date: 13 October 2004

See more news about:

Others also read

The glass sector has the increasingly widespread requirement of having an unlimited catalogue of parametric shapes and creating new ones in a simple way without being an expert in the field.
Glass Confusion is starting the New Year with Beginning Fused Glass group classes. The three-week course will be held Wednesdays from 10 a.m. to 1 p.m. and again from 5 p.m. to 9 p.m.
Shoaib Akhtar is going to be back on Indian TV screens. He is going to be featured in the new TV ad campaign for Asahi Glass.
Worldwide glass-substrate capacity is expected to continue to grow more than 40% each quarter through 2005, as a result of capacity expansion by existing glass-substrate suppliers and new companies joining the market, according to DisplaySearch.
Western Pennsylvania’s once-thriving glassmaking industry is dwindling, as did the domestic steel industry and for many of the same reasons: competition and cost.
Christmas got a little bluer for the local glass industry this week with the closure of yet another plant.

Add new comment