Corning LCD Production Problems

123JUMP.com: Corning expects sequential LCD glass volume to be flat to 5% down compared to a previous guidance of flat to 5% up. For the entire year, Corning expects LCD glass volume to grow between 40% and 50% and that the company will grow faster than the market. Corning expects volume growth to be roughly 70% for 1H’06 compared to 1H’05. The company expects LCD TV penetration of overall TVs to hit 19% and forecasted TVs shipped into the retail markets to hit 41 million, up from 38 million. A lightning struck Corning’s glass plant in Shizuoka, Japan and the company expects that it will be back on-line in June 2006.

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