Corning to Provide Financial Update at Credit Suisse Annual Technology Conference
November 30 2020 - 7:45AM
At today’s Credit Suisse Annual Technology Conference, Corning
Incorporated (NYSE: GLW) Chief Strategy Officer Dr. Jeffrey Evenson
will provide investors with an update about the company’s expected
financial performance in the fourth quarter of 2020.
Highlights of Dr. Evenson’s remarks will include:
- Fourth-quarter sales are expected to grow 5% to 8% sequentially
- Operating margin is expected to grow at approximately double
the rate of sales sequentially
Dr. Evenson will tell conference attendees, “Despite a
challenging macro environment, we continue to perform well and
deliver meaningful accomplishments across the company. The
relevance of our capabilities and our relationships with industry
leaders are creating new opportunities for us to support customers
with more Corning content. We are generating top- and bottom-line
growth in multiple businesses and our strategic investments are
paying off. Overall, our performance demonstrates the strength of
Corning’s portfolio and our ability to execute.”
Corning’s presentation to investors will be available via
webcast by accessing the investor events calendar on Corning’s
Investor Relations website at
www.corning.com/investor_relations.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within
the meaning of the Private Securities Litigation Reform Act of
1995), which are based on current expectations and assumptions
about Corning’s financial results and business operations, that
involve substantial risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties
include: the duration and severity of the recent COVID-19
(coronavirus) outbreak, and its ultimate impact across our
businesses on demand, operations and our global supply chains; the
effects of acquisitions, dispositions and other similar
transactions by the Company, the effect of global business,
financial, economic and political conditions; tariffs and import
duties; currency fluctuations between the U.S. dollar and other
currencies, primarily the Japanese yen, New Taiwan dollar, euro,
Chinese yuan, and South Korean won; product demand and industry
capacity; competitive products and pricing; availability and costs
of critical components and materials; new product development and
commercialization; order activity and demand from major customers;
the amount and timing of our cash flows and earnings and other
conditions, which may affect our ability to pay our quarterly
dividend at the planned level or to repurchase shares at planned
levels; possible disruption in commercial activities due to
terrorist activity, cyber-attack, armed conflict, political or
financial instability, natural disasters, or major health concerns;
unanticipated disruption to equipment, facilities, IT systems or
operations; effect of regulatory and legal developments; ability to
pace capital spending to anticipated levels of customer demand;
rate of technology change; ability to enforce patents and protect
intellectual property and trade secrets; adverse litigation;
product and components performance issues; retention of key
personnel; customer ability, most notably in the Display
Technologies segment, to maintain profitable operations and obtain
financing to fund their ongoing operations and manufacturing
expansions and pay their receivables when due; loss of significant
customers; changes in tax laws and regulations including the Tax
Cuts and Jobs Act of 2017; and the potential impact of legislation,
government regulations, and other government action and
investigations.
For a complete listing of risks and other factors, please
reference the risk factors and forward-looking statements described
in our annual reports on Form 10-K and quarterly reports on Form
10-Q. 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. Web
Disclosure
In accordance with guidance provided by the SEC regarding the
use of company websites and social media channels to disclose
material information, Corning Incorporated (“Corning”) wishes to
notify investors, media, and other interested parties that it uses
its website
(http://www.corning.com/worldwide/en/about-us/news-events.html) to
publish important information about the company, including
information that may be deemed material to investors, or
supplemental to information contained in this or other press
releases. The list of websites and social media channels that the
company uses may be updated on Corning’s media and website from
time to time. Corning encourages investors, media, and other
interested parties to review the information Corning may publish
through its website and social media channels as described above,
in addition to the company’s SEC filings, press releases,
conference calls, and webcasts. About Corning
Incorporated
Corning (www.corning.com) is one of the world's leading
innovators in materials science, with a 169-year track record of
life-changing inventions. Corning applies its unparalleled
expertise in glass science, ceramic science, and optical physics
along with its deep manufacturing and engineering capabilities to
develop category-defining products that transform industries and
enhance people's lives. Corning succeeds through sustained
investment in RD&E, a unique combination of material and
process innovation, and deep, trust-based relationships with
customers who are global leaders in their industries. Corning's
capabilities are versatile and synergistic, which allows the
company to evolve to meet changing market needs, while also helping
our customers capture new opportunities in dynamic industries.
Today, Corning's markets include optical communications, mobile
consumer electronics, display, automotive, and life sciences.
Media Relations
Contact: Gabrielle
Bailey
(607)
974-6394
baileygr@corning.com
Investor Relations Contact: Ann H.S. Nicholson
(607) 974-6716 nicholsoas@corning.com
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