Corning (GLW) Announces Improved 2Q LCD Volume Performance
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Corning Incorporated (NYSE: GLW) Vice Chairman and Chief Financial Officer James B. Flaws today updated the company's guidance of sequential second-quarter LCD glass volume growth, citing significant improvement in demand for LCD glass.
"Second-quarter glass demand is much stronger than we anticipated even a few weeks ago," Flaws reported. "As a result, we now expect second-quarter sequential volume to be up approximately 100% at our wholly owned business." He pointed out that the company has met much of the improved demand by drawing down its existing inventory. Additionally, the company has begun shipping glass from melting tanks that were restarted earlier in the quarter. Corning originally forecasted a second-quarter volume increase of more than 50%, and at the end of May revised volume growth expectations to more than 75%.
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