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April 28, 2014
07:19 EDTGLWCorning reports Q1 core EPS 31c, consensus 30c
Reports Q1 revenue $2.29B, consensus $2.3B. Reports core net sales $2.39B. Core sales in the Display Technologies segment increased 58% from the year-ago period, resulting primarily from the recent consolidation of Corning Precision Materials. Sales in the Optical Communications segment increased 26% from the year-ago period. Environmental Technologies segment sales increased 21% on a year-over-year comparison.
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December 1, 2015
06:53 EDTGLWCorning to locate a Gen 10.5 manufacturing facility in Anhui Province, China
Corning announced that with the support of the Hefei government, Corning will locate a Gen10.5 glass manufacturing facility adjacent to the BOE Technology Group plant in the Hefei XinZhan General Pilot Zone in Anhui Province, China. Glass substrate production from the new facility is expected to support BOE's plan to begin mass production of LCD panels for large-size televisions by the Q3 of FY18. The total investment for the facility is approximately $1.3B. Corning's investment will be composed primarily of equipment and precious metals. Corning's net outlay of $460M, which is net of government and commercial incentives, is expected to be approximately $290M in cash and $170M of currently owned precious metals. As part of this investment, Corning and BOE have entered into a long-term supply agreement that commits BOE to the purchase of Gen 10.5 glass substrates from the Corning manufacturing facility in Hefei. BOE also has extended its long-term supply agreement with Corning to purchase glass substrates for Gen 8.5 sizes and below.
November 19, 2015
08:32 EDTGLWCorning focusing on new end markets to expand growth, says Susquehanna
Susquehanna said Corning has recently focused on new end-market opportunities that could help provide growth as display matures. Although the firm noted the company is trying to find opportunities, they see only 6-8% accretion to 2017 earnings. Susquehanna reiterated its Positive rating and $22 price target on Corning shares.

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