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CORNING INCORPORATED

(GLW)
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Delayed Nyse  -  04:03 2022-10-06 pm EDT
31.49 USD   +0.54%
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Corning Incorporated : 2012-08-28 - Corning MobileAccess Enables “Always-on” Wireless Coverage in Key Areas of Charlotte and Tampa in Support of the 2012 Democratic and Republican National Conventions

08/28/2012 | 10:22am EDT

Corning MobileAccess Enables "Always-on" Wireless Coverage in Key Areas of Charlotte and Tampa in Support of the 2012 Democratic and Republican National Conventions Corning's distributed antenna systems enhance wireless services in key locations, including Charlotte Douglas International Airport and Tampa Convention Center

HICKORY, N.C., August 28, 2012 Corning MobileAccess, part of Corning Incorporated's (NYSE:GLW)  Telecommunications segment, announced that its  distributed antenna systems (DAS) have been deployed at major locations in Tampa, Fla., and Charlotte, N.C., in support of the 2012 Republican and Democratic national conventions.

In all, Corning MobileAccess' solutions provide continuous wireless access and improved cellular coverage in 12 key places - including convention centers and hotels - in the two cities where the national conventions are being held.

"The large spikes in wireless usage can create havoc with wireless service under the best conditions, let alone inside areas that are not normally conducive to receiving strong signals," said  Mike Genovese, senior vice president, Wireless Networks and New Business Development, Corning Cable Systems. "Corning is solving this problem by greatly enhancing wireless coverage in many of the places where convention attendees will be congregating. In doing so, we're supporting carriers' efforts to provide convention goers with uninterrupted, exceptional wireless service."

The DAS in the Tampa Convention Center covers the facility's 600,000 square feet. The convention center serves as a hub for the thousands of media representatives covering the 2012 Republican National Convention.

"The DAS at Tampa Convention Center is a state-of-the-art system that allows these journalists to stay connected, file stories and more. Beyond this event, it's a system that will continue to serve all convention center guests for years to come," said Rick Hamilton, director, Tampa Convention Center.

Charlotte Douglas International Airport (CLT) deployed the Corning MobileAccess DAS to provide cellular coverage and capacity throughout 1.8 million square feet of terminal space. Wireless Services, a company that specializes in RF design and installation, designed and installed the DAS at CLT.

"We worked very closely with representatives at CLT to provide the airport with a customized, comprehensive solution to successfully support the large influx of wireless communications that will take place during the convention and beyond," said Julio Dumas, managing partner, Wireless Services. "The Corning MobileAccess technology proved to be the best option for several reasons, including its support of the latest wireless technologies, such as 4G LTE MIMO, and its flexibility and modularity, which allows for the addition of more carriers and services as necessary without impacting existing infrastructure or services."

For additional information on Corning MobileAccess solutions visit http://www.corning.com/mobileaccess.

Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning's financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning's filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.

About Corning Incorporated
Corning Incorporated (www.corning.com) is the world leader in specialty glass and ceramics. Drawing on more than 160 years of materials science and process engineering knowledge, Corning creates and makes keystone components that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications and life sciences. Our products include glass substrates for LCD televisions, computer monitors and laptops; ceramic substrates and filters for mobile emission control systems; optical fiber, cable, hardware & equipment for telecommunications networks; optical biosensors for drug discovery; and other advanced optics and specialty glass solutions for a number of industries including semiconductor, aerospace, defense, astronomy, and metrology.

Media Relations Contacts:
Stephanie Hicks
(828) 291-6016
stephanie.hicks@corning.com

Joseph M. Dunning
(607) 974-5006
dunningjm@corning.com

Investor Relations Contact:
Ann S. Nicholson
(607) 974-6716
nicholsoas@corning.com



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Financials (USD)
Sales 2022 14 962 M - -
Net income 2022 2 137 M - -
Net Debt 2022 5 160 M - -
P/E ratio 2022 12,4x
Yield 2022 3,40%
Capitalization 26 619 M 26 619 M -
EV / Sales 2022 2,12x
EV / Sales 2023 2,05x
Nbr of Employees 61 200
Free-Float 41,9%
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Number of Analysts 14
Last Close Price 31,49 $
Average target price 39,02 $
Spread / Average Target 23,9%
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Managers and Directors
Wendell P. Weeks Vice President & GM-Optical Fiber Business
Eric S. Musser President & Chief Operating Officer
Edward A. Schlesinger Chief Financial Officer & Executive Vice President
David L. Morse Chief Technology Officer & Executive VP
Anne Mullins Chief Information Officer & Senior Vice President
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