has pumped up the volume again as the LCD glass-buying cycle revs up.
in two months, the Corning, N.Y. glassmaker says its glass shipments have grown more than expected and will double the prior quarter's volume at its wholly-owned LCD unit.
At the far end of the supply chain, Corning is often whipped around by the push and pull of the glass market.
The flat-screen glass maker was
last year, which curbed big TV sales, causing the company to slash jobs and cut production early this year. After that period of oversupply came a selloff of inventory to the point where demand finally caught up, and even started to exceed supply.
"Industry growth required a supply-chain expansion after the significant contractions we saw in the first quarter," Corning CFO Jim Flaws said in a press release Tuesday. "As we go forward, we expect some further supply-chain expansion as the industry prepares for the seasonally stronger fourth quarter."
Corning says pricing has improved in the second quarter after a steep drop during the first-quarter glass glut. The company says second-quarter price declines have been moderate.
Corning, which makes glass sheets that are cut to fit in panels for TVs and computer monitors, says TV sales have been strong this spring. Though the company maintained its forecast for total LCD glass volume of between 2.1 billion and 2.2 billion square feet, Flaws said volumes could exceed that projection if strong demand continued.
Corning shares rose 27 cents, or 2%, to $16.54 in premarket trading Tuesday.