Corning Incorporated (GLW) COO to Address Investors at J.P. Morgan Technology Conference

Source:marketwatch.com

CORNING, N.Y., May 17, 2010 (BUSINESS WIRE) -- Corning Incorporated /quotes/comstock/13*!glw/quotes/nls/glw (GLW 17.90, -0.06, -0.33%) President and Chief Operating Officer Peter F. Volanakis will tell investors today that "all of our businesses, including our equity ventures, are on track with our expectations for the second quarter" when he speaks at the J.P. Morgan Technology Conference in Boston at 8:40 a.m. Corning's comments at the conference can be heard via webcast at www.corning.com/investor_relations.

Industry data indicates that retail demand for LCD TVs, notebooks, and monitors remains robust. April LCD TV unit sales increased 13% in the U.S. over last year. Similarly, unit sales in Europe and Japan increased 22% and 44%, respectively. "These growth rates continue to run ahead of our internal forecasts," Volanakis will say. The retail data is the result of reports from a variety of independent consumer market research organizations (NPD, GFK and CMM) and the company's internal analysis.

In China, LCD TV demand appears to remain strong as well. "We do not yet have April retail data for China, but there are no indications that consumers' appetite has abated," Volanakis will say. "Incentive programs continue and retail prices are very attractive. As a result, we still see 37 million LCD TV unit sales in China this year."