From Star-Gazette.com
CORNING — Corning Inc. told investors in New York City today that it expects revenue from its diesel products business to grow by more than 60 percent this year.
Thomas R. Hinman, general manager of Corning Diesel Technologies, said the diesel pollution control products business could produce $500 million to $600 million in revenue for the Twin Tiers’ largest employer by 2010.
Corning Inc. also reaffirmed its first-quarter sales and earnings targets, despite an expected decline of 10 to 15 percent in the volume of liquid crystal display glass shipped in the quarter.
The company forecasts first-quarter sales of $1.26 billion to $1.31 billion and earnings per share of 24 to 27 cents before special charges. Lower demand early in the year for liquid crystal display televisions was cited as the reason for the reduced glass shipments.
The annual investor meeting is being held today at the Mandarin Oriental Hotel in New York City.