Corning beats by $0.01, beats on revs; guides Q1 EPS above consensus, revs above consensus (GLW) $22.37 :
Reports Q4 (Dec) earnings of $0.40 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.39; revenues rose 15.6% year/year to $1.58 bln vs the $1.55 bln consensus. Co issues upside guidance for Q1, sees EPS of $0.41-0.43, excluding non-recurring items, vs. $0.36 consensus; sees Q1 revs of $1.59-1.62 bln vs. $1.52 bln consensus. Co said, "We believe first-quarter panel maker inventory levels are lower this year than last year. We expect panel makers to maintain high utilization rates throughout the first quarter, which will drive continued strong glass demand.
Looking forward, we anticipate the LCD glass supply and demand balance will remain tight throughout the year, absent the impact of any potential downturn in the economy."
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment