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Earnings Calls: 
Corning Earnings Call, Second Quarter 2008
Author: Maclintosh Kuhlengisa
123jump.com
Last Update: 5:40 PM ET August 04 2008


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The specialy glass and ceramics maker reported sales of $1.69 billion, up 19% as demand for LCD glass was strong. A $2.4 billion net special gain primarily related to the release of U.S. deferred tax asset valuation allowances drove earnings 557% to $3.2 billion or $2.01 a share. hile there are economic and supply-chain risks facing the firm in the second half of the year, the firm remains optimistic about the key areas of opportunity.

 
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Jim Flaws: We are seeing cost increases in materials, principally resins and life sciences and the products that go into a cable systems either hardware or armory in the cable. They are not material enough that we know, it’s changing our results for the corporation obviously on top of it more to raise prices there.

Energy tends to be as a percentage of our cost, to be below 10%, so it has not been a significant item for us, yet but we are obviously paying attention to it. We do not have not it show up on our primary raw material which is sand and clay, although certainly transportation costs have factored in that.
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