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Technology Stocks : Corning Incorporated (GLW) -- Ignore unavailable to you. Want to Upgrade?

To: John Trader who wrote (1659)	2/27/2002 1:02:03 AM
From: i-node	Read Replies (1) \| Respond to of 2260

I am not sure when their debt is due. I am not qualified at this time to make a good determination of whether or not GLW survives, but my guess is that they will. and it is not likely to be easy to borrow money as we go forward The suggestion that GLW may not survive is utter nonsense. $2.0 Billion of the long-term debt is comprised of zero-coupon convertible bonds, due 2015. Between now and 2015 there is about $1.0 Billion due, the vast majority of which is due after 2007. Yet the company has an excess of current assets over current liabilities of some $2.0 Billion. In addition, there is a $2.0 Billion credit line that is unused at this time (although, it expires sometime in the next 2-3 years, I think). There is NOTHING in this company's financial statements that should give rise to a going-concern issue. It IS a fact that they sustained a huge loss for 2001 - but substantially, it is for restructuring costs -- NOT from operations. In fact, without the restructuring charges, the company actually MADE MONEY last year -- the year telecomm died. Assuming they don't take additional restructuring hits, the company should easily be cash flowing this year. Certainly, it is tough to argue with idea that there is yet a lot of fiber needed. I don't know if it is 10 times the current amount, but it is substantial. This isn't even the central issue, though. Just as fiber has been huge for Corning, so will the display business, which they own half of for the time being. There exists the potential for displays to dwarf fiber within the next five years or so. In short, this company is an absolute steal at these prices. And there is certainly no reason to suggest its survival is at issue.

To: John Trader who wrote (1659)	3/6/2002 1:23:01 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 2260

Corning: Telecom Industry to Hit Bottom 1st Quarter Wed Mar 6, 1:19 PM ET NEW YORK (Reuters) - Corning Inc. said on Wednesday it expects the slump in the telecommunications equipment industry to hit bottom in the first quarter, but the pace of recovery remained unclear. "We're increasingly confident that Q1 will represent the bottom ... but it's too early to discuss the pace of recovery," Corning Chief Executive John Loose said at the Bloomberg 7th Annual Telecom Day conference in New York. "Our order rates, customer dialogue and analysis show us we're at the bottom," Loose said. Loose said he expects the recovery to be driven by orders by the large, incumbent communications companies as they upgrade and expand fiber optic networks in metropolitan areas and install fiber for network access. Corning does not anticipate any signs of growth in the long-haul fiber optic market, which still suffers from overcapacity, but the company expects "robust" growth in the metropolitan fiber segment, Loose said. If sales fail to improve as expected, Corning may cut additional costs, he said.