Sands Brothers Investment Research for GLW
1/26/01 8:57 AM
Source: News.com
CORNING, INC. (NYSE: GLW) Reiterating Buy Recommendation, Expecting Revenue And EPS Acceleration In Second Half of 2001
Company Description: Established in 1851, Corning Incorporated is a diversified products and services company. The Company manufactures optical fiber, cable and components, high performance glass and components for televisions, electronic displays for communications-related industries, and advanced materials for the scientific, life sciences and environmental markets.
Corning Incorporated and its subsidiaries have 56 plants and 37 sales or service offices worldwide. Corning has a presence in 22 countries. Corning retains ownership (50 percent or less) in 50 affiliated companies in 16 countries. It has 15,400 employees and is headquartered in Corning, New York. The company’s ticker “GLW” stands for “Glass Works”.
Investment Conclusion: On January 24, 2001 Corning reported its 4Q00, and FY00 earnings. The Company came in line with our 4Q00 revenue estimate of $2.1 billion, and posted EPS of $0.34, up $0.06 over our previous EPS estimate of $0.28. We are maintaining our Buy recommendation |
