Corning Continues to See Strength in LCD TV Sales
20 Giugno 2008 - 3:14PM
Business Wire
Corning Incorporated (NYSE:GLW) today said that strong U.S. liquid
crystal display (LCD) TV sales reported through the first five
months of the year reinforces the company�s belief that the 2008
global LCD glass market will grow at the upper end of its original
25% to 30% year-over-year estimate. �So far this year, we are not
seeing evidence of the economic downturn impacting our forecasted
growth,� said James B. Flaws, vice chairman and chief financial
officer. �In fact, the evidence we have shows that May LCD TV sales
in the U.S. increased nearly 50% over a year ago. This view is
consistent with outside, third-party sources such as The NPD, an
independent consumer market research firm. We cannot guarantee that
retail sales will remain resistant to economic pressures. However,
the strength of TV sales to date is consistent with consumers�
behavior during the last three recessions.� �We have seen LCD TV
sales grow significantly year over year every month this year. The
strength of reported LCD TV sales through the first five months of
this year leads us to believe that the worldwide market will reach
the 105 million units that we originally forecasted,� Flaws said.
Remarking on supply chain concerns, Flaws said, �Our conversations
with our customers, the panel manufacturers, indicate that their
inventories are at very reasonable levels as the supply chain
prepares for seasonally robust second-half demand.� Flaws added
that Corning�s display facilities continue to operate at full
capacity, �and our customers are also running at high utilization
rates.� About Corning Incorporated Corning Incorporated
(www.corning.com) is the world leader in specialty glass and
ceramics. Drawing on more than 150 years of materials science and
process engineering knowledge, Corning creates and makes keystone
components that enable high-technology systems for consumer
electronics, mobile emissions control, telecommunications and life
sciences. Our products include glass substrates for LCD
televisions, computer monitors and laptops; ceramic substrates and
filters for mobile emission control systems; optical fiber, cable,
hardware & equipment for telecommunications networks; optical
biosensors for drug discovery; and other advanced optics and
specialty glass solutions for a number of industries including
semiconductor, aerospace, defense, astronomy and metrology.
Forward-Looking and Cautionary Statements This press release
contains forward-looking statements that involve a variety of
business risks and other uncertainties that could cause actual
results to differ materially. These risks and uncertainties include
the possibility of changes in global economic and political
conditions; currency fluctuations; product demand and industry
capacity; competition; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; changes in the mix of sales between premium and
non-premium products; new plant start-up costs; possible disruption
in commercial activities due to terrorist activity, armed conflict,
political instability or major health concerns; adequacy of
insurance; equity company activities; acquisition and divestiture
activities; the level of excess or obsolete inventory; the rate of
technology change; the ability to enforce patents; product and
components performance issues; stock price fluctuations; and
adverse litigation or regulatory developments. Additional risk
factors are identified in Corning�s filings with the Securities and
Exchange Commission. Forward-looking statements speak only as of
the day that they are made, and Corning undertakes no obligation to
update them in light of new information or future events.
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