Corning Glows on Price Pledge

Overall, Corning sees 2007 industry LCD volume expanding in the 35% range. Corning says it will likely grow slightly faster than that pace. The projection is a slower rate than the more than 50% growth rate last year. But as Asbeck points out, the volume increase comes off a larger base -- meaning a smaller proportional impact.

The bullish pricing comments helped Corning investors overlook a mixed earnings report issued earlier Wednesday.

Corning reported earlier Wednesday that fourth-quarter adjusted earnings were 31 cents a share on sales of $1.37 billion. Analysts were looking for a 31-cent profit on sales of $1.3 billion. But the company said first-quarter numbers will fall slightly below targets, in large part because of the pricing decision.

Corning shares rose $1.54 to $20.38 early Wednesday.

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