Corning Sticks With Forecast

The company sees third-quarter sales of $1.14 billion to $1.19 billion.
Author:
Publish date:

Corning

(GLW) - Get Report

reaffirmed its third-quarter guidance, saying sales should be $1.14 billion to $1.19 billion with earnings of 20 cents to 22 cents a share before items.

The glassmaker expects sequential unit volume for its display technologies segment to rise 10% to 20%, while pricing is expected to be unchanged to down slightly from the second quarter.

Corning also expects the overall LCD glass market to remain on track for volume growth of more than 50% for the year.

For the company's telecommunications segment, sequential sales volume will likely be unchanged to down 5%, and the same is predicted for sequential fiber volume. The Corning, N.Y., company forecast fiber price declines of less than 5% compared with the second quarter.

Shares of Corning added 2 cents to $20.08 in premarket trading.