CORNING : post better than expected profit

NEW YORK (Reuters) - Specialty glass maker Corning Inc posted better-than-expected quarterly profit, boosted by cost cutting and improving demand for glass for flat screen televisions and computer monitors.

First-quarter net income fell to $14 million, or 1 cent a share, from $249 million, or 16 cents a share, the company said on Monday.

Excluding special items, Corning, the largest maker of glass for liquid crystal display (LCD) screens, reported earnings of 10 cents a share, beating the analysts estimate of 5 cents a share, according to Reuters Estimates.

Sales fell 9 percent to $989 million.

Citing strength of LCD TV sales, the company doubled its forecast for 2009 unit growth to 18 percent from 9 percent.

Corning's shares were up 1.8 percent at $15.60 in premarket trading.

(Reporting by Franklin Paul; Editing by Derek Caney)