Corning (GLW) comments on the flat-panel and optical fiber markets

| About: Corning Inc. (GLW)

All quotes are from the CCBN StreetEvents transcripts:

Sales for the third quarter were slightly over $1 billion, a 4 percent increase over the second quarter and a 30 percent increase over the third quarter last year.

Gross margins were 40 percent in the third quarter, a significant improvement… driven primarily by increased volume within our Telecommunications Segment, as well as the higher mix of larger size LCD glass and manufacturing efficiencies in our display segment.

Display… sequential volume growth of 4 percent… under our… guidance of 5 to 10 percent... this miss is less than one day shipments from one plant... continue to be sold out… pricing was stable…Demand from our customers continues to exceed what we're able to supply. Compared to the third quarter of last year, our volume grew more than 70 percent...

We have seen aggressive panel price reductions of 20 to 30 percent on monitors over the last two months… It is our belief… that retail prices will begin to fall much more dramatically. We have not decreased our glass prices… glass typically represents only 5 to 10 percent of the end product. However… we ultimately expect our prices and our cost to decline over time.