Earnings Edge - Corning Inc.


Wall Street is in the thick of earnings season. Here's the story behind Corning's (GLW) numbers.

Glass, fiber optics and specialty materials company Corning Inc. says its first-quarter profit rose 27%, exceeding Wall Street's expectations despite a slowdown in demand for liquid-crystal-display glass.

Corning Chief Financial Officer James Flaws joins the guys for this conversation on the fast line.

Flaws says his company experienced 11% growth in telecom, but most of their revenue is still coming from “display.”

Dylan Ratigan explains that GLW makes the glass in flat panel TV’s and then asks what happens to Corning as the price of flat screen TV’s drops.

Flaws says that Corning is holding margins. And he thinks the stock is up because they’ve implemented a new pricing strategy.

Dylan asks about global demand and if it’s bearing itself out in Corning’s business.

The LCD business is a global business says Flaws. He sees robust growth both abroad and at home.

Dylan asks the guys what they think of the stock?

Eric Bolling calls it a great play – and likes GLW’s multi-national exposure.

Guy Adami says it a compelling story.


Questions? Comments? fastmoney@cnbc.com

Trader disclosure:
On APR 25, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders. Strazzini Owns (POT), (GSK), (IBM) Bolling Owns (DIS), Gold, Silver, Corn Bolling Is Short Soybeans, Bolling Is Long (AMZN) Options