Corning Trims LCD View

Corning (GLW Quote) shares dipped slightly Monday after the company cut its forecast for liquid crystal display glass sales.

The LCD and fiber optic cable maker says it now expects glass volume to range between flat to a 5% sequential decline in the second quarter ending in June. Previously, the company had expected sequential volume to be somewhere between flat to 5% up for the quarter.

Despite the slip in shipments for glass used in TVs and computer monitors, Corning reaffirmed financial guidance for the quarter. The company expects an adjusted profit of about 25 cents a share on $1.31 billion in sales. Analysts are looking for pro forma earnings of 25 cents on $1.32 billion in revenue, according to Reuters Research. ...