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CORNING SECOND QUARTER ESTIMATES IN LINE WITH ANALYST EXPECTATIONS, EXCLUDING SPECIAL CHARGE

CORNING SECOND QUARTER ESTIMATES IN LINE WITH ANALYST EXPECTATIONS,
 EXCLUDING SPECIAL CHARGE
 CORNING, N.Y., June 19 /PRNewswire/ -- Corning Incorporated (NYSE: GLW) today said the company's second-quarter results will include its 50-percent share of the special charge Dow Corning Corporation announced June 18. The impact on Corning will be approximately $16 million after-tax, or $0.09 per share.
 Chairman of the Board James R. Houghton said "Corning's earnings, excluding the special charge, are expected to be $0.46 to $0.47 per share in line with analyst expectations."
 "This action by Dow Corning," Houghton added, "will allow them to focus more clearly on results of continuing operations."
 For the second quarter ended June 16, 1991, Corning reported net income of $0.41 per common share (adjusted for the 2-for-1 common stock split in January 1992.) Corning expects to release its 1992 second- quarter results June 22.
 Dow Corning Corporation is 50-percent owned by Corning, Inc. and by the Dow Chemical Company.
 -0- 6/19/92
 /CONTACT: Kathryn C. Littleton, 607-974-8206, or Stephen L. Albertalli-investor relations, 607-974-8357, both of Corning/
 (GLW) CO: Corning Incorporated ST: New York IN: HOU SU: ERP


TQ -- NY001 -- 1801 06/19/92 09:05 EDT
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Publication:PR Newswire
Date:Jun 19, 1992
Words:199
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