18 avril, 2005 15:37
Corning raises Q1 guidance
(04/18/2005 10:40 AM EDT)
MANHASSET, N.Y. — Corning Inc. announced Monday (April 18) it expects 2005 first-quarter sales to range from $1.04 billion to $1.05 billion and earnings per share to be 16 to 17 cents, up from previous guidance calling for sales of $980 million to $1.03 billion and earnings of 11 to 13 cents per share.
The company said that its improved first-quarter projected results are due to significantly stronger performance from Dow Corning Corp. and higher-than-expected demand for Corning's hardware and equipment products.
Corning added that first-quarter results will benefit from a lower-than-anticipated corporate tax rate. The company also expects that the volume and pricing of optical fiber and liquid crystal display glass will be within previously stated guidance ranges.
