Corning affirms 2Q earnings, sales outlook

Specialty glass and ceramics maker Corning Inc. on Thursday reiterated its second-quarter sales and earnings-per-share guidance in a range that includes analyst estimates.

Excluding special items, earnings per share will be in a range of 47 cents to 50 cents, the company said. Analysts polled by Thomson Financial expect, on average, 49 cents per share.

Revenue will reach $1.71 billion to $1.75 billion. Analysts expect $1.72 billion.

Chief Executive Wendell P. Weeks said in a statement Corning has no evidence of an economic downturn decreasing LCD TV sales in the U.S.

LCD TV unit sales in the U.S. have been up at least 30 percent year-over-year for each of the first four months of this year and are expected to continue to be strong, the company said.

Shares rose 13 cents to $27.61 shortly after the opening bell.