Afraid you're going to hear more bad news about earnings? Not from

Corning

(GLW) - Get Report

. The former glassworks-focused company that has emerged as a leader in the optical-networking area said it expects third-quarter earnings to beat analyst estimates.

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Analysts surveyed by

First Call/Thompson Financial

expect Corning to earn 30 cents a share. Corning said it now expects pro forma earnings to come in at 34 cents or 35 cents per share.

Corning earned 19 cents a share in the same period last year.

The company also said it expects the fourth quarter to be strong and it raised its full-year earnings guidance to $1.15 to $1.17 per share.