Corning - indirekt zu 25% an Hemlock beteiligt (Seite 9)

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Corning profits down in 1Q12
Rodney Chan, DIGITIMES, Taipei [Thursday 26 April 2012]


Corning has reported first-quarter 2012 revenues of US$1.9 billion, a 2% increase sequentially but a slight decrease of 0.2% from a year ago. Net profits totaled US$462 million in the first quarter of 2012, down 6% from US$491 million in the fourth quarter of 2011 and down 38% from US$748 million in the first quarter of 2011.

Its Display Technologies' wholly owned business LCD glass volume increased by mid-single digits sequentially and about 10% from the year-ago quarter. Volume at Samsung Corning Precision Materials was better than expectations, declining less than 10% sequentially and year over year, the company said.

Its Specialty Materials sales, which include the Gorilla glass, grew 21% sequentially and 13% year over year, the company added.

"We are pleased with the progress we made in the first quarter," Wendell P Weeks, chairman, CEO and president of Corning, said. "Our overall business performance is on track with our expectations. First-quarter sales in our Telecommunications, Environmental Technologies, Life Sciences, and Specialty Materials business segments grew, and we continued making strategic investments to create new revenue streams for the company. In the Display Technologies segment, LCD glass volume was slightly better than our forecast. And, we were especially delighted with the strength of Corning Gorilla Glass sales in the quarter."

Sales in the Display Technologies segment were US$705 million, declining 10% sequentially and 11% compared to a year ago. LCD glass price declines were in line with company expectations, it said.

Specialty Materials segment sales were US$288 million, a 21% sequential and 13% year-over-year improvement. The quarterly growth was driven by higher-than-expected Gorilla Glass sales for handheld devices and tablet computers, Corning said.

Looking Forward

"After two successive quarters of significant LCD glass price declines, we expect our price declines will be much more moderate this quarter," James B Flaws, vice chairman and CFO, said.

Flaws pointed out that LCD glass volumes are expected to be consistent in the company's wholly owned business and up slightly in Samsung Corning Precision this quarter. The company expects stronger LCD glass volume growth later in the year, driven primarily by normal retail seasonality.

Specialty Materials segment sales are anticipated to grow in the range of 10-15%, driven primarily by the continued demand for Gorilla glass for the handheld and information technology markets, the company said.

[Goldbaba]

Antwort auf Beitrag Nr.: 42.711.896 von R-BgO am 07.02.12 13:12:28

http://www.trefis.com/stock/glw/articles/102332/cornings-inn…

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Corning’s Innovation to Meet Mobile Demand Will Help Drive Growth
February 23rd, 2012 by Trefis Team
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Corning (NYSE:GLW) is embracing mobile with its increasingly visual and intuitive interfaces and believes that this segment will drive its growth in the future. Corning will take advantage of this opportunity by innovating and producing even more cutting edge technology glass which will be thinner, more damage resistant and eco-friendly.

The company reiterated these plans in its annual investor meeting held in New York earlier this month. The company also noted that it is on a path to achieve the stated revenue target of $10B by 2014. In spite of the company’s bullishness about its future growth plans, challenges remain on the profitability front which is being hurt by the declining glass prices. The company is hoping that thinner glass and shorter replacement cycles will help drive the prices higher and bring its profitability back on track. Corning competes with companies like PPG Industries (NYSE:PPG) and 3M (NYSE: MMM)

See our full analysis of the Corning stock here

Innovation in Gorilla & Ultra Slim Flexible Glass

The company is not satisfied with the success of its star product and is striving to drive improvements. It has come up with a new Corning Gorilla Glass 2, which is 20% thinner than Gorilla Glass 1 and has the same industry-leading damage resistance as its predecessor.

The company is also creating an ultra slim flexible glass which will drive improvements in high performance displays. Corning will use its patented fusion glass manufacturing process to produce a slim, flexible glass almost five times thinner than the standard display glass. This will also help the manufacturers to move from the present batch manufacturing process to the continuous roll to roll process. This will unlock an opportunity to manufacture glass using the plastic techniques while retaining the transparency, encapsulation, and high-temperature tolerance of glass.

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By Mark Osborne - 03 February 2012, 16:27In News, Materials, Finance
Hemlock Semiconductor revenue impacted by polysilicon glut


Dow Corning’s JV polysilicon subsidiary, Hemlock Semiconductor was impacted by overcapacity in 2011. Like major competitor, Wacker sales were lower and demand weakened. Overall, Dow Corning recorded record sales of US$6.43 billion in 2011 while adjusted net income decreased 15% compared to 2010. The company does not breakout polysilicon sales.

“We were unable to translate record 2011 sales into increased profits due to oversupply and softening demand in our industry combined with higher materials and energy costs,” commented Executive Vice President and Chief Financial Officer J. Donald Sheets.”This situation, as well as continued global economic volatility, impacted both our silicones and polycrystalline silicon-segments.”

Sheets added in a statement that; “Our polycrystalline silicon business through Hemlock Semiconductor Group was impacted by significant oversupply in the solar industry, a condition we expect to continue in 2012.”

The comments support resent analysis by GTM Research that overcapacity will continue, putting continued pressure on polysilicon spot pricing and long-term supply contract pricing.

Dow Corning reported fourth quarter sales were US$1.52 billion, 4% lower than last year’s fourth quarter. The company noted that prices softened across most geographic regions.

Net income was US$260 million, 3% higher than last year’s fourth quarter, but adjusted net income was US$76.8 million, 53% lower than last year’s fourth quarter.

Sheets also noted that as a cost-competitive polysilicon manufacturer the company was in a good position to compete in the future, while emphasising it was “aggressively pursuing opportunities to increase efficiency and reduce costs in our operations.”

[Goldbaba]

http://eon.businesswire.com/news/eon/20120203005383/en

February 03, 2012 08:03 AM Eastern Time

CORNING, N.Y.--(EON: Enhanced Online News)--Several innovations from Corning Incorporated’s (NYSE: GLW) new business portfolio have the opportunity for growth and could become significant revenue generators for the company, Wendell P. Weeks, chairman, chief executive officer...

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A Day Made of Glass... Made possible by Corning.

http://www.youtube.com/watch?v=6Cf7IL_eZ38&feature=youtu.be

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Corning and Samsung Mobile Display form new OLED glass venture
Press release; Rodney Chan, DIGITIMES [Monday 6 February 2012]


Corning and Samsung Mobile Display have signed an agreement to establish a new equity venture for the manufacture of specialty glass substrates for the rapidly expanding organic light emitting diode (OLED) device market. The new business will be located in Korea.

Combining Corning's Lotus Glass substrate technology and Samsung Mobile Display's OLED display expertise, this new entity will be well-positioned to provide outstanding product solutions for current and future OLED technologies, from handheld and IT devices to large TVs and beyond.

The newly formed entity will supply OLED backplane glass substrates for Samsung Mobile Display, as well as for the broader Korean market.

According to a recent NPD DisplaySearch report, OLED technology advanced rapidly in 2011, setting a trend that is forecast to continue through this decade. They estimate that OLED display revenues will exceed US$4 billion in 2011 (approximately 4% of flat panel display revenues), and will reach more than US$20 billion (approximately 16% of the total display industry) by 2018.

Samsung is playing a leading role in this emerging market through its Galaxy mobile device products and Super OLED TV technology introduced in January at the International Consumer Electronics Show. Corning's ongoing advanced glass technology development includes a strong focus on high-performance displays. Most recently, this focus has been demonstrated through Corning's new Lotus Glass substrates, which deliver the higher processing temperatures and improved dimensional stability needed to produce the new high performance displays.

"Samsung Mobile Display has led the global display industry by constantly seeking innovations and challenging current technologies' limits. We are confident that combining our business powers with Corning's technology leadership will deliver greater value to our clients," said Soo In Cho, Samsung Mobile Display's president and chief executive officer.

"Corning and Samsung have a long and successful partnership in the display industry, dating back nearly 40 years to the early days of television," said Wendell P Weeks, Corning's chairman, chief executive officer, and president. "The strength of our business relationship is built on Corning's ability to develop and make high-technology glass with the key attributes that enable Samsung's next-generation displays."

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Antwort auf Beitrag Nr.: 42.646.446 von R-BgO am 25.01.12 16:42:31

http://www.forbes.com/sites/ericsavitz/2012/01/25/corning-se…

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ROCHESTER, New York (AP) -- Specialty glass maker Corning Inc. said Wednesday that its profit slumped 53 percent in the fourth quarter but its revenue rose 7 percent on stronger sales of glass for flat-screen televisions, computers and mobile devices.

The world's largest maker of liquid-crystal-display glass cautioned, however, that it is reducing glass prices in the current quarter to help panel makers overcome financial strains in the LCD market. Its shares fell almost 7 percent in premarket trading.

Corning said its net income fell to $491 million, or 31 cents per share, in the October-December period. That's down from $1.04 billion, or 66 cents per share, a year earlier.

Excluding special items, earnings were 33 cents a share in the latest period. That matches Wall Street expectations.

Revenue rose 7 percent to $1.89 billion from $1.77 billion. Analysts surveyed by FactSet expected revenue of $1.85 billion.

Sales of LCD glass rose 4 percent in the quarter to $780 million. However, Chief Financial Officer Jim Flaws said "price declines would be significant" in the first quarter as they were in the fourth quarter.

"We are working closely with our customers to reduce glass prices to help them with their immediate financial strains," Flaws said. "We are hopeful that our pricing actions, combined with our capacity decisions, will help us get back to more stable price declines in the coming quarters.

Corning expects the retail market for LCD products to grow from about 3.2 billion square feet in 2011 to 3.6 billion square feet in 2012.

Its shares fell $1, or 6.8 percent, to $13.62 in premarket trading. The stock has ranged from $11.51 to $23.43 in the past year.

DisplaySearch estimates that 206 million LCD-TVs were shipped worldwide in 2011, up 7.5 percent from 2010, while shipments in North America fell 2 percent to 37.5 million units.

In 2012, the market-research firm in Austin, Texas, projects a 9 percent jump in global shipments of 225 million units, and a 3.7 percent rise in North American shipments of 38.9 million units.

"Without the big inventory problem plaguing the supply chain like it did last year, and with small but continuous improvements in the economic outlook ... there's better times ahead for the industry," said DisplaySearch analyst Paul Gagnon.

Propelled by ultra-strong Gorilla glass used in handheld and tablet devices, specialty materials revenue swelled 21 percent to $238 million.

Environmental technologies revenue amounted to $238 million, in line with a year ago. Life-sciences revenue rose 2 percent to $143 million, and telecommunications sales rose 11 percent to $490 million.