Corning says LCD glass demand continues to be 'good' Says LCD glass demand driven by good retail demand in Q4 for larger televisions and Chinese New Year. Expects higher price declines in Q1 than in previous quarters, says this is a "one quarter phenomenon". Expects to see volume growth of Gorilla Glass more in line with consumption in 2014. Sees total effective tax rate moving from 17% in 2013 to approximately 22% in 2014. Feels good about the glass market as entering 2014; says inventory levels appear healthy, glass supply seems aligned with demand. Expects another year of glass volume growth at retail. Sees Q1 Optical Communications sales to be up in the mid-teens vs. last year. Sees Q1 environmental sales to be up mid single digits year-over-year. Expects Specialty Materials sales to be consistent year-over-year in Q1. Believes Gorilla Glass volume will be up significantly for the year. Equity earnings from Dow Corning should be up for the total year, however, Q1 will be down versus a year ago. Sees Q1 Life Sciences sales consistent with a year ago. Sees Q1 gross margin almost 45%. Comments made on the Q4 earnings conference call.
UBS to hold a conference Global Technology Conference to be held in Sausalito, California on November 18-20 with webcasted company presentations to begin on November 18 at 10:45 am; not all company presentations may be webcasted. Webcast Link