Last $22.02 USD
Change Today -0.07 / -0.32%
Volume 3.7M
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As of 8:04 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

One Riverfront Plaza

Corning, NY 14831

United States

Phone: 607-974-9000

Fax:

Corning Incorporated engages in manufacturing specialty glass and ceramics. The company manufactures and processes products at approximately 70 plants in 15 countries. Segments The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. Display Technologies Segment This segment manufactures glass substrates for active matrix liquid crystal displays (LCDs) that are used primarily in notebook computers, flat panel desktop monitors, and LCD televisions. The company develops, manufactures, and supplies glass substrates using technology expertise and a proprietary fusion manufacturing process. The company offers EAGLE XG, the EAGLE XG composition, EAGLE XG Slim glass, a line of slim glass substrates which enables lighter-weight portable devices and thinner televisions and monitors. The company offers Corning Lotus Glass, a display glass developed to enable cutting-edge technologies, including organic light-emitting diode (OLED) displays and next generation LCDs. The company offers Corning Willow Glass. And in 2013, the company announced the commercial launch of Corning Lotus XT Glass, a second-generation glass substrate specially formulated for displays. The Corning Lotus Glass platform offers an immersive display device. Display Technologies segment has two equity affiliates, Samsung Corning Precision Materials Co., Ltd. (Samsung Corning Precision Materials), of which Corning owns 57% and Samsung Display Co., Ltd. (Samsung Display) owns 43%; and Samsung Corning Advanced Glass, LLC, owned equally by Corning and Samsung Mobile Display Co., Ltd. Samsung Corning Precision Materials is a supplier of LCD glass substrates to display manufacturers in Korea. Samsung Corning Advanced Glass, LLC manufactures specialty glass substrates for the rapidly expanding organic light emitting diode (OLED) device market. The business combines Corning’s Lotus Glass substrate technology and Samsung Display’s OLED display expertise, to provide product solutions for OLED technologies. Optical Communications Segment This segment manufactures optical fiber and cable, and hardware and equipment. This segment would be classified into two main product groupings – carrier network and enterprise network. The carrier network product group consists primarily of products and solutions for optical-based communications infrastructure for services, such as video, data and voice communications. The enterprise network product group consists primarily of optical-based communication networks of products and solutions sold to businesses, governments and individuals for their own use. The company’s carrier network product portfolio begins with optical fiber products, including Vascade submarine optical fibers for use in submarine networks; LEAF optical fiber for long-haul, regional and metropolitan networks; SMF-28 ULL fiber for more scalable long-haul and regional networks; SMF-28e+ single-mode optical fiber that provides additional transmission wavelengths in metropolitan and access networks; and ClearCurve ultra-bendable single-mode fiber for use in multiple-dwelling units and fiber-to-the-home applications. In 2013, the company announced its latest single-mode optical fiber innovation, SMF-28 Ultra fiber. The company’s optical fiber is sold directly to end users or third-party cablers around the world. Its remaining fiber production is cabled internally and sold to end users as either bulk cable or as part of an integrated optical solution. The company’s cable products support various outdoor, indoor/outdoor and indoor applications and include a range of loose tube, ribbon and drop cable designs with flame-retardant versions available for indoor and indoor/outdoor use. In addition to optical fiber and cable, the company’s carrier network product portfolio also includes hardware and equipment products, including cable assemblies, fiber optic hardware, fiber optic connectors, optical components and couplers, closures, network interface devices, and other accessories. These products may be sold as individual components or as part of integrated

 

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Industry Analysis

GLW

Industry Average

Valuation GLW Industry Range
Price/Earnings 18.1x
Price/Sales 3.6x
Price/Book 1.5x
Price/Cash Flow 16.1x
TEV/Sales 2.1x
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