CORNING, N.Y., Dec. 8 /Xinhua-PRNewswire/ -- Corning Incorporated (NYSE:
GLW) Vice Chairman and Chief Financial Officer James B. Flaws will present
the keynote address to investors at the Lehman Brothers Global Technology
Conference in San Francisco on Dec. 7 at 7:30 a.m. PST.
(Logo: http://www.prnasia.com/sa/200612081746.jpg )
"We remain confident in the company's fourth-quarter guidance as outlined
in our third-quarter earnings announcement on Oct. 24," Flaws will tell
investors.
Flaws will provide an update on Corning's key growth areas, including its
telecommunications, diesel and display businesses, reaffirming the company's
previously disclosed expectations for fourth-quarter performance in each of
these areas. He will also address key topics of interest to investors as
they evaluate current trends in the liquid crystal display (LCD) industry.
Corning's presentation to investors at the Lehman Brothers Global
Technology Conference will be available via webcast by accessing the IR
events calendar on Corning's Web site at
http://www.corning.com/investor_relations .
Presentation of Information in this News Release
Non-GAAP financial measures are not in accordance with, or an alternative
to, GAAP. Corning's non-GAAP net income and EPS measure excludes
restructuring, impairment and other charges and adjustments to prior
estimates for such charges. Additionally, the company's non-GAAP measure
excludes adjustments to asbestos settlement reserves required by movements in
Corning's common stock price, gains and losses arising from debt retirements,
charges resulting from the impairment of equity or cost method investments,
or adjustments to deferred tax assets, and gains or losses recognized in
equity earnings from restructuring, impairment or other charges or credits
taken by equity method companies. Corning's free cash flow financial
measures are also non-GAAP measures. The company believes presenting non-
GAAP free cash flow; net income and EPS measures are helpful to analyze
financial performance without the impact of unusual items that may obscure
trends in the company's underlying performance. These non-GAAP measures are
reconciled on the company's Web site at
http://www.corning.com/investor_relations and accompany this news release.
About Corning Incorporated
Corning Incorporated ( http://www.corning.com ) is a diversified
technology company that concentrates its efforts on high-impact growth
opportunities. Corning combines its expertise in specialty glass, ceramic
materials, polymers and the manipulation of the properties of light, with
strong process and manufacturing capabilities to develop, engineer and
commercialize significant innovative products for the telecommunications,
flat panel display, environmental, semiconductor, and life sciences
industries.
Forward-Looking and Cautionary Statements
This press release contains forward-looking statements that involve a
variety of business risks and other uncertainties that could cause actual
results to differ materially. These risks and uncertainties include the
possibility of changes in global economic and political conditions; tariffs,
import duties and currency fluctuations; product demand and industry
capacity; competition; manufacturing efficiencies; cost reductions;
availability and costs of critical components and materials; new product
development and commercialization; order activity and demand from major
customers; changes in the mix of sales between premium and non-premium
products; facility expansions and new plant start-up costs; possible
disruption in commercial activities due to terrorist activity, armed
conflict, political instability or major health concerns; adequacy and
availability of insurance; capital spending; equity company activities;
acquisition and divestiture activities; the level of excess or obsolete
inventory; the rate of technology change; the ability to enforce patents;
product and components performance issues; stock price fluctuations; and
adverse litigation or regulatory developments. Additional risk factors are
identified in Corning's filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the day that they are made, and
Corning undertakes no obligation to update them in light of new information
or future events.
