Corning Suffers Power Disruption In Taiwan; Will Hurt Q4 Glass Production - Eric Savitz (Barron's)

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Corning Suffers Power Disruption In Taiwan; Will Hurt Q4 Glass Production
Oct 19, 2009 05:11 PM UTC

Eric Savitz (Barron's)

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Via BARRONS.com: Tech Trader Daily - Barron's Online:

Corning (GLW) this morning said it suffered a power disruption over the weekend at its LCD glass manufacturing facility in Taichung, Taiwan which affected some glass-making operations. Corning said the disruption “is expected to have a material impact” on Q4 glass volumes. The company said the power disruption caused the shutdown of several glass melting tanks.

The company said it now thinks Q4 glass volumes could be flat to down slightly sequentially; previously, the company had expected glass volumes to be up as much as 5% from Q3.

Corning will report Q3 results a week from today.

GLW today is up 7 cents, or 0.5%, to $15.44.

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