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   Technology StocksCorning Incorporated (GLW)

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From: Asymmetric1/11/2015 8:52:56 PM
   of 2260
Growth Is the Gorilla in Corning’s Room
After a Strong Year, Corning’s Newest Innovations Will Be Needed to Keep Up Growth

By Dan Gallagher / WSJ - Heard on the Street Updated Jan. 11, 2015

Corning is unlikely to match 2014’s heady revenue growth this year. Associated Press

In a world of touch screens, germs may give Corning a shot at a new opportunity.

That is a good thing for the maker of specialty-glass products, which still makes most of its money from the volatile TV-display business. At last week’s Consumer Electronics Show, Corning showed off a new product called Iris Glass that is designed to reduce the thickness of a high-definition TV to something on par with today’s smartphones.

It also added an antimicrobial feature to its popular Gorilla Glass product. This uses ionic silver to fight contamination on the surface of the screen, or more simply, germs. Corning announced at CES that Clover Mobile will use the product in its point-of-sale terminals at retailers.

While early in their life cycle, these developments are important. Corning needs to stay at technology’s cutting edge as demand for touch screens and displays grows.

Corning has wrapped a strong year, thanks to big sales in its display unit. Analysts project total revenue grew 29% in 2014, its strongest year of growth since 2000.

Not that it is likely to maintain that pace. Current estimates have the company’s display-glass business staying flat in 2015, so revenue growth may have to rely on Corning’s other segments, including Gorilla Glass. And this business is also fickle, as more smartphone sales have shifted to lower-end devices that can’t afford premium components.

Corning reports year-end results later this month. The stock is up more than 24% since its last quarterly report and its forward price/earnings multiple is at just an 8% discount to that of the S&P 500. That is among its lowest discounts over the past five years.

To justify this, Corning will have to show that its latest innovations can actually drive further growth.

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From: Sidney Street1/15/2015 1:34:45 PM
   of 2260
From SA:

JPMorgan upgrades Corning, cites 4K TVs and Iris Glass

Jan 15 2015, 10:57 ET | About: Corning Inc. (GLW) | By: Eric Jhonsa, SA News Editor

JPMorgan's Rod Hall has upgraded Corning ( GLW +0.8%) to Overweight, and hiked his target by $5 to $26. His move comes a month after Citi's upgrade, and ahead of Corning's Jan. 27 Q4 report.Hall cites expectations of strong 4K/UHD TV growth - one of the factors behind Corning's Dec. 9 guidance hike - and the potential for the company's recently-launched Iris Glass (a light-guide plate solution for edge-lit TV sets) to boost 2016 EPS by as much as 6%.Corning is close to its 52-week high of $23.89, and trades for 15x 2015E EPS. The 2015 revenue growth consensus is at 2.2%.

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From: Asymmetric2/5/2015 3:25:01 AM
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Corning Inc. nears $10B sales goal
Jeff Murray, | @SGJeffMurray 4:15 p.m. EST January 27, 2015

Corning Inc. businesses performed well last year, according to numbers released by the company Tuesday.

Corning Inc. saw growth across the company in the fourth quarter and throughout 2014, according to sales and earnings figures released Tuesday.

Net sales were up 23 percent in the fourth quarter and net income was up 135 percent, according to Corning Inc.

For the entire year, net sales were up 24 percent and net income grew by 26 percent.

Company officials were most excited about sales numbers. Computed using Generally Accepted Accounting Principles, or GAAP, those sales totaled $9.7 billion.

Using figures that are adjusted to exclude the impact of changes in Japanese yen and Korean won foreign exchange rates, as well as other items that do not reflect ongoing operations of the company, that number is $10.2 billion.

Both numbers are milestones for Corning Inc.

"Our GAAP sales are still a record. We've never been close to $10 billion before," said Tony Tripeny, Corning Inc. vice president and corporate controller.

"We had a great fourth quarter. We ended up finishing with a really strong year. Every quarter was better than the comparable quarter of 2013. We feel this sets us up really well for 2015."

Earnings per share were 70 cents in the fourth quarter and $1.73 over the full year.

Using the adjusted numbers, Corning Inc. provided sales and earning figures for its major businesses:

•Display technologies: Sales were $1.1 billion in the fourth quarter, up 69 percent over 2013. Sales for the year were $4.4 billion, up 63 percent, driven by Corning Precision Materials sales.

•Optical communications: Fourth-quarter sales were $676 million, up 12 percent. Overall annual sales were nearly $2.7 billion, up 14 percent.

•Environmental technologies: Fourth-quarter sales were $250 million, up 5 percent. Annual sales were up 19 percent, driven by higher sales of heavy-duty diesel products.

•Specialty materials: Sales were $319 million in the fourth quarter, up 12 percent. Annual sales were up 3 percent.

•Life sciences: Fourth-quarter sales of $215 million were up 2 percent from a year ago. Sales were up slightly over the full year.

"You'll see a lot more (improvement). We haven't really seen the full benefit of Gorilla Glass 4 yet," said Dan Collins, Corning Inc. vice president of corporate communications.

Gorilla Glass 4, developed at Sullivan Park research facility, was launched in November.

The strong operating and financial performance will mean stability for the 5,200 Corning Inc. employees who work in the region, Tripeny said.

Independent analysts who follow Corning Inc. were also impressed by the company's 2014 performance.

"It's very good news. It more than met our expectations," said Angelo Zino, senior industry analyst with S & P Capital IQ in New York City. "Looking to the first quarter, the glass business is very healthy. Overall these are very good results. I think the outlook is pretty good."

Corning Inc. stock closed at $24.73 on Tuesday, up 82 cents, or 3.4 percent.

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From: Sidney Street2/7/2015 10:26:27 AM
1 Recommendation   of 2260
Friday's Investors Day slides available as PDFs, for all speakers.
Faster than listening to hours of webcast archives.

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From: JakeStraw3/17/2015 11:06:04 AM
   of 2260
Corning's germ-fighting glass means you can touch an ATM with less worry

The special glass is just beginning to make its way into public displays such as ATMs and payment terminals, but Corning hopes it will eventually get into consumer electronics.

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From: Asymmetric5/10/2015 2:26:06 PM
1 Recommendation   of 2260
Corning Watch: Balance keeps company on solid footing

LARRY WILSON, Elmira Star-Gazette May 8, 2015

Ever since Corning Inc. stared down bankruptcy early in this century, the company has kept a fund for a rainy day.

At the end of last year, that fund totaled $6.1 billion in cash and short-term investments. By the end of this year's first quarter, it had declined to $5.1 billion.

Is this a sign that the company is so confident about its future that it can allow its rainy day fund to dwindle? Or is it a sign that the lessons of past troubles have begun to fade as a new generation begins to take over the Fortune 500 company?

Actually, it's probably not either one. Corning's Chairman and CEO, Wendell Weeks, hasn't forgotten the early part of the last decade, when it appeared questionable whether he and others would keep their jobs.

They did and went on a single-minded crusade to better balance the Twin Tiers' largest employer so as to avoid allowing one business to threaten the existence of the company.

Generally, they have been remarkably successful. Corning Inc. was over-dependent on optical fiber and related components when the market for those products imploded.

It later became over-dependent on liquid-crystal display glass, which could have set the company up for another hard fall.

Today, however, Corning is better balanced than it has been in many decades.

Optical communications has recovered to provide a steady income from fiber-to-the-home and data center products.

Liquid crystal display glass has stayed strong, despite some challenges. Gorilla Glass, not used in displays but rather as a protective cover, has become a significant moneymaker.

Environmental products to cut emissions from cars and trucks show continued growth. Life Sciences keeps Corning on the cutting edge of bio-technology.

The rebalancing of Corning is the overarching achievement of Weeks and his team in the past five years.

Now, the collapse of a single segment of Corning's business, although it would be significant would not be catastrophic.

With the economic uncertainties and the potential geopolitical disruptions that lie ahead, corporations that rely principally on one product may find it difficult to survive.

Corning, on the other hand, has positioned itself to face the future without allowing a single business to dominate the company.

That may be one of the reasons why the rainy day fund has been allowed to shrink a little.

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From: FJB6/29/2016 3:20:27 PM
3 Recommendations   of 2260

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From: John Hayman11/25/2020 5:15:10 PM
   of 2260
Hello, anyone out there in GLW ?? I can't believe that there hasn't been any post on this board for four years. The stock price hasn't been on fire for sure, but there is a dividend that is small, but yet ???
Anyway, I am just keeping the subject alive.
go GLW , I hope !!!

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To: John Hayman who wrote (2258)11/19/2021 9:13:57 AM
From: Geomean
   of 2260
I'm new to Corning. It looked pretty good in a Better Investing Stock Selection Guide analysis. I'm looking for a message board with thoughtful discussion and analysis of the company. It's three year strategic plan is worth reading, especially relating to Corning's use of it's cash flow for innovation, capital expenditures, increasing shareholder dividends and stock buybacks.

Gorilla glass has been a great success. It's flexible Willow Glass has been mentioned in several scholarly papers relating to perovskite solar cells. Energy Materials Corporation in Rochester NY is building a roll to roll perovskite 100 M per hour production prototype using a monster (leased) Kodak roll to roll film deposition machine capable of producing 4 GW of solar cell material per year using Willow Glass as the substrate. Energy Materials says the production prototype machine is scaleable by 10X for each machine. It's received a 4 Million grant from the US Dept. of Energy for this work.

Willow Glass seems to be an excellent substrate for flexible solar cell production. Power Roll in England is doing similar work as EMC applying PV materials to flexible substrates. Power Roll's patents seem to be substrate agnostic as long as they are flexible enough to go around roller drums that have ports for material deposition. Corning is already in the top 10 worldwide in polysilicon production through it's 80% interest in Hemlock Semiconductor of Hemlock, MI. Apparently Willow Glass is much more durable than polysilicon.

Corning is worth some study.

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To: Geomean who wrote (2259)11/19/2021 10:19:57 AM
From: John Hayman
   of 2260
This year I went on a road trip and went through Corning NY. I spent some time in the town, eating, observing, and conversing with locals. Afterwards , based on that visit to Corning, I sold my shares!!!

I made a profit on it, and some dividends, but I was not impressed with the future of the company. There was a lot of logic to apply for it to be a winner, but it never panned out as a good investment to me.

Good luck with them, I hope you make some money.


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