Corning Incorporated (GLW) Message Board

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Technology Stocks : Corning Incorporated (GLW)

GLW 79.46

+1.8%

Nov 21 9:30 AM EST

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To: SemiBull who wrote (1625)	2/10/2002 11:05:09 AM
From: E_K_S	Read Replies (1) of 2260

Hi Semi Bull - My comment was specific to Corning's Advanced Materials Division. As a percentage of Corning's total revenue picture, the Advanced Material Division is small. Also, many of the one time write downs Corning has described in their 10Q are specific to their optical business and as a result they continue to post a loss. Perhaps the active word is "could be" very profitable. The Advanced Materials Division IMO is a growth area and in Q4 management did some restructuring. Other companies in similar businesses are doing quite well and continue to show year-to-year revenue growth (i.e. Becton-Dickinson bd.com. Management should look to some of their competitors for direction so the company can maximize the return on these hidden assets. According to their 10Q, the Life Sciences business was the only business segment with increasing revenues and positive earnings. It is quite small compared to their other operations. From the Q4 10Q: "...Sales in the life sciences business of $65 million in the third quarter of 2001 increased slightly compared to third quarter 2000 sales of $62 million. Nine-month sales in 2001 were up 7% to $204 million compared with $191 million in the comparable period of 2000 due to increased volumes of microplates. Earnings in the base business continued to improve in the third quarter and first nine months of 2001 due to a sales mix shift to higher margin products and fixed cost reductions. However, continued investment in microarrays technology partially offset these improvements resulting in a slight increase in earnings for the quarter and year to date compared to the prior year. On October 18, 2001, Corning announced the discontinuation of its initiative in microarray technology products..." EKS

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