Rochester, NY 8/12/2009 4:04:06 PM
After Hours - Corning Incorporated, GLW - Corning Inc. Profit Rose on Second Quarter
Corning Incorporated
Corning Inc. gained a market high on second quarter beating estimates by 30% as LCD tv sales remains strong. The company recently restarted some idled plants to meet glass demand. GLW trades with a forward P/E of 14.2.
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LCD television sales contributed to the revenue growth as sales in the Display Technologies segment rose 89% from the first quarter. The Telecommunications segment increased 14% from the first quarter as there was strong demand for optical fiber and cable in China.
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