Friday, February 03, 2006

Corning Wants Your Living Room

Corning (GLW) reaffirmed first-quarter guidance today.

The stock edged up a bit after execs said Corning expects to make about 22 cents a share for the quarter ending next month on sales of around $1.23 billion.

On more occassions than we care to count, we've championed Corning's potential in a fast growing category:
Our LCD supply play continues to edge higher ever since we pitched it hard back when it was a teenager.

On Wednesday, Corning reported another robust quarter, with both margins and net income up from a year ago period.

We believe Corning is a stock analysts talk to in their sleep (13 analysts and not one sell), but investors are woefully overlooking.

LCD glass accounted for about 35 percent of Corning's revenue and 75 percent to 80 percent of its profit last year; we believe that the mushrooming flat panel TV/LCD business should remain robust.

Corning is restructuring by axing off debt, improving gross margins, and reinventing it's revenue driver so that it can wake up from the 5 year telecom coma.

During the gold rush, the suppliers of shovels and picks made all the dough.

As the main supplier of glass in today's flat panel boom, Corning's the dunk shot play on TV addiction.

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