Corning Incorporated (GLW) Message Board

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Technology Stocks : Corning Incorporated (GLW)

GLW 87.86

+1.1%

Dec 19 9:30 AM EST

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To: Curtis E. Bemis who wrote (536)	4/25/2000 9:51:00 AM
From: BDR	Read Replies (2) of 2260

Corning sees revenue growth near 40 pct in 2000 NEW YORK, April 25 (Reuters) - Fiber optic maker Corning Inc. (NYSE: GLW) said on Tuesday it expected overall revenues to rise close to 40 percent this year. Chief Financial Officer James Flaws said revenue growth would likely be 30 percent before acquisitions and other ventures were taken into account. "We expect ... overall revenue growth post-deals to reach $6.5-$6.6 billion, or close to 40 percent growth," he said in a telephone conference call. He said strong demand was straining capacity. The company will bring forward some 2001 capital spending into this year, bringing capital spending to $1.4-$1.5 billion. Corning had forecast capital expenditures of $1.2 billion. The company posted profits barring special items of $178.1 million, or 64 cents a share, on Monday, up from $92.5 million, or 36 cents, a year before. Revenues rose to $1.35 billion from $997 million a year earlier. The shares closed on Monday at 148-1/4. The stock's opening was delayed Tuesday morning by an order imbalance. It was last indicated at 148-1/4 bid, 164 ask.

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