Corning revealed yesterday (10th September) that it could incur a smaller-than-expected decline in glass output for the third quarter of 2009, Reuters reports.

The world's largest manufacturer of glass for liquid crystal display (LCD) screens had predicted that quarterly output would decrease by between five and ten per cent.

However, a recent increase in demand now means the company is estimating a drop of less than five per cent from the second quarter at its wholly-owned business.

"[The supply chain for displays] is expanding in preparation for what we now believe will be a stronger fourth quarter than we previously thought," said Chief Executive Wendell Weeks, according to the news provider.

Corning adopted a more positive outlook for the remainder of the year after noting an improvement in corporate spending on technology and LCD television sales since May.

However, the company also confirmed that an earthquake in Japan last month - which caused it to shut down its Shizuoka facility - will hit Q3 profit margins by about two per cent.

Mr Weeks added that the plant is now being restarted and the firm expects some output to recommence this month, with further increases in October.

Corning counts itself as a market leader in the fields of display technologies, environmental technologies, telecommunications, life sciences and specialty materials.

Source:

UPDATE 2-Corning sees glass output drop less than expected (10/09/09)

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