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Wednesday, July 31, 2024

Obituary: Elaine H. CARLSSON, 83, of Wellsville

 

Elaine H.  CARLSSON, 83, of Wellsville, NY, formerly of Rocky Point, died Tuesday, July 30, 2024 in Maple City Rehabilitation and Nursing Center, Hornell.  Born October 2, 1940, in Morristown, NJ, she was the daughter of Francis Joseph and Helen Hanlon Dacey.  On November 3, 1962, in Lake Ronkonkoma, NY, she married Tage G. Carlsson, who predeceased her on March 28, 2019.  A graduate of Port Jefferson High School, she was employed as a CNA by Sunrest Nursing Home in Port Jefferson for over 40 years.  She loved thrifting and going to the casino.  Surviving are: two sons, Tage G. (Christa) Carlsson, Jr. of El Paso, TX and Terrance G. (Armanda) Carlsson of Pueblo, CO; a daughter, Joellen D. (Michael) Bidzerkowny of Wellsville; ten grandchildren; five great grandchildren; two sisters, Maureen (Charles) Caraftis of Long Island and Bonnie-Jean McIlwrath of Florida; nieces and nephews.  In addition to her husband, she was predeceased by two sisters, Ellen "Jinxie" Nowosielski and Sheila (Louis) Daly; and a brother, Francis J. Dacey, Jr.  A Mass of Christian Burial will be celebrated 11:00 AM, Monday, August 5, 2024 in Immaculate Conception Church, Wellsville.  Entombment will be in White Haven Memorial Park, Pittsford, NY.  Memorials may be made to the Alzheimer’s Association at www.alz.org/wny.  Online condolences may be expressed at www.wellsvillefuneralhome.com. 

Obituary: William P. Weinhauer, 94, Wellsville

 

William P. Weinhauer, 94, passed away peacefully on Monday, July 29, 2024 at Wellsville Manor, in Wellsville, NY.  He was born May 17, 1930, in Wellsville, the son of the late Paul W. and Genevieve (Graham) Weinhauer.

Dad was a native of Wellsville, graduating from Wellsville High School in 1948.  From 1948 -1950 he was employed by the Weldonian Dairy as a milkman.  In 1950 – 1951 he was employed at Worthington Corporation in Wellsville.  In 1951- 1953 he served in the US Army during the Korean Conflict and in the Army Reserves from 1953 until 1961.  On October 17th, 1953, he married Marlene (Pohl).  In 1953 – 1992 he worked as a machinist for Worthington Corporation, retiring after 40 years.  On September 29, 1973, he married Sibyl Ann (Ackley) Bliss Cutlip.

He was a member of the Trinity Lutheran Church of Wellsville, a member of the Wellsville Grand Squares, enjoyed chasing the hot air balloons and loved to rabbit hunt with his beagles Judy & Ginger.  Automobiles were his passion, where he spent countless hours in his garage, and he loved going to all the county fairs. In retirement Bill delivered Meals on Wheels.

Bill is survived by his (2) daughters, Janet (William Sweet) Kemp, Jeannine (Will Smith) Weinhauer of Wellsville, (4) grandchildren, Susan (Peter) Harris, Limestone, NY, Shelley (LJ Sanchez) Golish, Buffalo NY, & Dustin (Danyelle) Feeley, Rochester, NY, Sheila Kemp of Wellsville and several great grandchildren.  He is also survived by a niece Carrie W. (Leon) Smith, (2) nephews Charles D. (Debora) White, Bradley P. (Tracy) White, his stepchildren: Gerald Bliss, Westfield PA, Thomas (Connie) Bliss, Wilmot Township, PA and James (Linda) Bliss, Westfield, PA., a cousin, Lynda [Bill] Rogers.

He was predeceased by his wife first wife, Marlene Rose, his second wife Sibyl Ann Weinhauer, his sister, Jane White, his brother-in-law, Charles White and his grandson, Grant Kemp III.

A special thank you to his caregivers:  Sheila Kemp, Lisa Geffers & Jeanett Cornelius who assisted with his daily care at his home, it was sincerely appreciated.  A thank you to the Wellsville Ambulance Corp., Jones Memorial Hospital, Highland Nursing Home & the Wellsville Manor for their assistance as well.

Friends are invited to attend a visitation on Tuesday August 6th from 11 am till 12 noon in the First Trinity Lutheran Church of Wellsville. The Funeral Service will be held in Church at 12 noon. Burial with full military Honors will be held in Woodlawn Cemetery.

In lieu of flowers, please consider donations to the Wellsville Ambulance Corps. To leave online condolences please visit www.embserfuneralhome.com

Allegany County DPW Public Service Announcement - Household Hazardous Waste Collection Day on 09-07-24

Annual Household Hazardous Waste Collection Day on September 7 

 

Allegany County will host its 23rd Annual Household Hazardous Waste Collection Day on Saturday, September 7, 2024.

 

Since 2010, the Allegany County Solid Waste Department, with the help of all County Residents, has collected and safely disposed of more than 150,000 pounds of Household Hazardous Waste. Some of the most common items accepted include pesticides and insecticides, fertilizers, pool chemicals, cleaning chemicals, and oil-based paints.

 

Additionally, since 2022, in coordination with PaintCare and under the New York State Product Stewardship Plan, Allegany County residents have been encouraged to bring latex and other household paints for proper disposal.

 

This year’s event will be held on Saturday, September 7, 2024, from 8:00 a.m. to 12:00 p.m., pre-registration is required and space is limited. To pre-register or for more information, please contact Tim Palmiter, Allegany County Recycling Coordinator at 585-268-7282 or timothy.palmiter@alleganyco.gov.


North Hornell: Ribbon Cutting for new $1.5 million neurology, rheumatology and infusion center

Jones Memorial Hospital is planning a ribbon cutting ceremony on Thursday, August 8 at 2pm to celebrate the opening of the $1.5 million neurology, rheumatology and infusion center in the Medical Office Building at 7309 Seneca Rd N in Hornell.

The new clinic offers office visits for neurology and rheumatology as well as infusions for these patients and general infusions with a large, state of art infusion suite including 6 infusion chairs, nutrition center, social worker and on site providers.
The ribbon cutting ceremony and open house will be held at the clinic and is open to the public. Community members are invited to come tour the space, meet the new providers and learn about services provided and how to refer care to the new location.
For more information, visit jones.urmc.edu.

Obituary: Leonora C. “Lee” Irish, 86, Coudersport

 

Leonora C. “Lee” Irish          “beloved wife, mother and fur mom” 

COUDERSPORT, PA---Leonora C. “Lee” Irish, 86, a longtime resident of Coudersport, passed away on Sunday, July 28, 2024, in UPMC Cole, Coudersport, after a short illness. 

Born on Tuesday, April 5, 1938 in Norwalk, Connecticut, she was a daughter of Charles R. II and Celia Barbarosa Pennington.  On October 15, 1960 in Norwalk, she married Ferd W. Irish, who passed away on January 9, 2018.  

Lee was a graduate of Norwalk High School in Norwalk, CT and was a graduate of Yale-New Haven Nursing School in New Haven, CT.  She earned her Master’s Degree in Nursing from Alfred University.  

After her marriage and relocating to Coudersport,  Lee was employed as a private duty Registered Nurse taking care of Charles Cole at the former Potter County Hospital in Coudersport.  She then was employed at the hospital and after the completion of the “new hospital” was head nurse for many years in the Emergency Room.  She was then instrumental in writing the policies and procedures for the Short Procedure Unit (SPU) running that department for many years until her retirement at the hospital.  After her retirement from the hospital, she became Dr. Miller’s nurse at the Potter County Health Center until finally retiring from healthcare.  She had recently served as Sweden Township Auditor.  She, for many years, served as Judge of Elections on the election board in Sweden Township.  It goes without saying that as a potato farmer’s wife, she was there to help her beloved husband in any way possible on the farm.  

Lee was a member of the former St. Bibiana Catholic Church in Galeton and was a member of the Catholic Daughters of America Court Doyle 932 in Coudersport where she had previously served as treasurer.  She was a former member of Potter County Hospice where she also served on the Board of Directors.  She served on many volunteer associations’ Board of Directors, including the Pennsylvania Lumber Museum in Ulysses and also the Coudersport Public Library where she was active in their auctions.  She was a devoted wife, mother and fur mom.  Her compassion covered not only humans but animals of all kinds.  She had a love of all animals.  Lee was a voracious reader. At the age of 55, she proudly completed the NYC Marathon.

 She was a woman of great faith, finding comfort and strength in her beliefs throughout her life. 

Left to cherish her memory are her son, Wayne J. Irish of Coudersport; a brother, Charles R. (Mae) Pennington III of Norwalk, CT; a sister-in-law, Elaine Rife of The Dalles, Oregon; three nieces; and her two cats, Bennie and Samson.

 Lee was predeceased by her parents and husband. 

Friends may call from 9:30am to 11am on Monday, August 5, 2024, at the gathering space of St. Eulalia Catholic Church, 6 Maple Street, Coudersport.  A Mass of Christian Burial will be celebrated at 11am in the church with The Rev. Joseph Dougherty, as celebrant.  Burial will be in Sweden Hill Cemetery, Coudersport. 

In lieu of flowers, memorials in Lee’s name may be made to Teacher’s Pet Rescue, 19 Blackberry Lane, Coudersport, PA 16915 or to the Coudersport Public Library, 502 Park Avenue, Coudersport, PA 16915. 

Lee entrusted her care to Kevin J. Dusenbury, funeral director/owner of the Virgil L. Howard Funeral Home, Shinglehouse. 

To express condolences, light a candle, or share a fond memory of Lee, please visit www.virgillhowardfuneralhome.com or the Virgil L. Howard Funeral Home Facebook page.

Town of Wellsville schedules road paving

For Release: Immediately

Contact: Brian Smith, Highway Superintendent

Dan Pease, Deputy Superintendent

Town of Wellsville Highway will be paving on Niles Hill on August 6th and 7th (in case of rain, every thing will be pushed back a day). Motorists are urged to seek alternate routes. Thank you for your cooperation.

Tuesday, July 30, 2024

Cattaraugus County: Sheriff's Office Mourns the Death of Senior Emergency Services Dispatcher Lexer

Senior Emergency Services Dispatcher Timothy T. Lexer answered his final call on July 29, 2024 as the result of a tragic accident. Tim began working with the Sheriff's Office Dispatch Center in 2006, being promoted to Senior Emergency Dispatch Supervisor in 2019.  Tim was the voice on the radio that every law enforcement officer, firefighter and EMS provider wanted to hear knowing that they were in the best hands.  Tim was devoted to his career, his community and most of all his family. Tim exemplified the true meaning of being a kind, caring, giving, devoted and loving human being. He has touched an unimaginable number of lives, not only with his work in the Dispatch Center but also as a firefighter, Fire Chief, EMT, and countless other community activities. His loss will be felt by all that had the privilege to know him, even if it may have only been by voice. 

Tim leaves behind his loving wife Barb, daughters Jessica (James), Heather (Jayson), Bethany, and Gretchen, son Sean (Chalese), sisters Debbie (John) and Tina (Darryle).  Tim was the proud grandfather of three granddaughters Evelyn, Avery and Abigail and three grandsons Owen, Carter and Logan.  

Senior Dispatcher Tim Lexer may you rest in peace, we have it here.  395 clear

Wellsville: Dyke Street Engine preps for Chicken BBQ

The tickets are out and about on sale for our upcoming barbecue! Dinners are $13.00. This will be in the evening Thursday August 22, from 4pm - 6pm. Please contact any member for tickets.

For Immediate Release: Democrats collecting for Salvation Army Food Pantry

Belmont, NY – When the Allegany County Democratic Committee hosts its monthly “Coffee with Democrats” on Saturday, August 10th in Wellsville, they will be collecting non-perishable food and personal care items to be donated to the Salvation Army Food Pantry. Last month the group collected for the Catholic Charities Joyce Family Food Pantry. This is one small way county Democrats “serve our community.”

Specific requests from the pantry include any and all types of non-perishable food, as well as personal care and paper products. They also welcome donations of cash or grocery store gift cards, so they can purchase perishable staples such as milk, eggs, cheese and bread.

The “Coffee with Democrats” event runs from 9:00 to 11:00 am at Democratic Election Headquarters, 84 N. Main St., Wellsville, and is open to all registered Democrats.  Coffee, tea, and light snacks will be served. Sign up here to attend:  https://bit.ly/Coffee-w-Dems

Contact us for details at info@alleganycountydemocrats.org, or 585-610-4321 or on Facebook (https://www.facebook.com/alleganycodems) or Threads   (https://www.threads.net/@allegany_ny_dems) 

To learn more, visit www.alleganycountydemocrats.org or follow us on Facebook or Threads. 

Allegany County Press Release: DPW Road Closures on Portion of Co Rd 26 in the Town of Belfast from August 5-8

CLOSURE OF PORTION OF COUNTY ROAD 26 IN THE TOWN OF BELFAST

 

Please be advised County Road 26 from County Road 16 to Van Allen Road will be closed from approximately 7 a.m. until 3:30 p.m. August 5 and from Van Allen Road to Lilly Road daily from 7 a.m. until 3:30 p.m. on August 6, 7, and 8 to replace several culverts. There will not be an on-site detour and motorists are urged to seek alternate routes.  Thank you for your cooperation.

Allegany County Press Release - Meals on Wheels Drivers Needed

The Allegany County Office for the Aging needs a volunteer in the Alfred/Almond and Wellsville area who would be willing to deliver meals to our clients.

The office reimburses for mileage and the volunteer receives a free meal.

If you have about an hour a day and would be willing to deliver meals to elderly friends and neighbors in Alfred/Almond and Wellsville, please call the Allegany County Office for the Aging at (585) 268-9390 and ask to speak to Karen Chamberlain.

Partial Obituary: Eversyn Xavier Lee JONES, infant son, Ulysses, PA

Eversyn Xavier Lee JONES, infant son of Sandra and Patrick Jones of Ulysses, PA, was born sleeping on Friday, July 26, 2024 in UPMC Cole, Coudersport, PA.  Surviving besides his parents are: maternal grandparents, Michael and Angel Wigman, Sr.; maternal great-grandmother, Lucy “Nanny” Heisler; paternal grandmother, Bessie Jones; eight siblings, Arianna Weaver, Cheyanne Jones, Patrick Jones, Jr., Erika Jones, Cayden Jones, Adalynne Jones, Raidyn Jones, and Brisyn Jones; aunts, uncles, and cousins.  He was predeceased by maternal great-grandfather, Alfred “Pappy” Heisler; and paternal grandfather, David Jones, Sr.  Service plans are incomplete at this time.  Arrangements are under the direction of Olney-Foust Funeral Homes & Crematory, Ulysses, PA.  Online condolences may be expressed at www.olneyfoust.com.

Fatal crash in Portville

On July 29, 2024 at 4:09 P.M., Troopers out of SP Olean responded to a two-vehicle collision at the intersection of State Route 417 and Fischer Lane in the town of Portville. Investigation determined that a 2008 Dodge was traveling east bound on State Route 417 when a 2014 Kia entered the roadway northernly from Fischer Lane. The Dodge struck the Kia on State Route 417. The operator of the Kia, Clemendina M. Gaylor, 65 of Portville, NY was pronounced deceased at the scene. The operator and passenger of the Dodge were transported to Olean General Hospital in stable condition.

The NYSP Collision Reconstruction Unit and the Bureau of Criminal Investigation assisted in this investigation.

Corning Reports Strong Second-Quarter 2024 Financial Results

 News Release

 

FOR RELEASE – July 30, 2024

 

 

Corning Reports Strong Second-Quarter 2024 Financial Results, Exceeding April Guidance and Marking Return

to Year-over-Year Sales Growth

 

Outperformance was driven primarily by the

strong adoption of new optical connectivity products for generative AI

 

Management expects core sales to grow to ~$3.7 billion in the third quarter, with

core EPS growing faster than sales and in the range of $0.50 to $0.54

 

Corning and Lumen Technologies reach an agreement to reserve 10% of Corning’s global fiber capacity for each of the next two years to interconnect

AI-enabled data centers

Results and outlook reinforce management’s confidence in its ‘Springboard’ plan to add more than $3 billion in annualized sales with strong incremental profit and

cash flow in the next three years, as cyclical factors and secular trends converge

 

CORNING, N.Y. — Corning Incorporated (NYSE: GLW) today announced its second-quarter 2024 results and provided its outlook for third-quarter 2024.

 

Wendell P. Weeks, chairman and chief executive officer, said, “Our strong second-quarter results exceeded the guidance we provided in April and marked a return to year-over-year core sales and EPS growth. The outperformance was driven primarily by the strong adoption of our new optical connectivity products for generative AI, which drove record sales in the Enterprise portion of our Optical Communications business. The opportunity is only growing; in fact, in the third quarter, we reached an agreement with Lumen Technologies that uses our new gen-AI fiber and cable system to facilitate Lumen’s build of a new network to interconnect AI-enabled data centers.”

 

Weeks continued, “We’re off to a great start with our ‘Springboard’ plan. We’ve positioned the company to capture significant growth – with powerful incremental profit and cash flow – as cyclical factors and secular trends converge to drive demand for our capabilities. Because of our growing confidence in Springboard, we began buying back shares in the second quarter. We’re energized by the tremendous opportunity for value creation we’ve built for our shareholders.”

 

Second-Quarter 2024 Financial Highlights:

  • GAAP sales were $3.25 billion. Core sales were $3.60 billion. 
  • GAAP EPS was $0.12, and core EPS was $0.47. The difference between GAAP and core EPS primarily reflected constant currency adjustments, translated earnings contract gains, and translation gains on Japanese-yen-denominated debt, as well as restructuring and non-cash asset write-off charges.
  • GAAP gross margin was 29.2%. Core gross margin improved sequentially and year over year by 110 and 170 basis points, respectively, to 37.9%.
  • GAAP operating cash flow was $521 million, and adjusted free cash flow was $353 million.

 

Third-Quarter 2024 Outlook:

  • For the third quarter, management expects core sales to grow to approximately $3.7 billion with core EPS in the range of $0.50 to $0.54. The sequential sales increase is driven primarily by the continued adoption of new optical connectivity products for generative AI in Optical Communications more than offsetting the expected slowdown in the North American Class 8 truck market.

 

Ed Schlesinger, executive vice president and chief financial officer, said, “Our second-quarter results reflect great progress against our ‘Springboard’ plan. Core gross margin and operating margin improved 110 basis points and 190 basis points, respectively, versus the prior quarter. We also grew adjusted free cash flow to $353 million. These results are a strong proof point of the incremental profit and cash flow we expect to deliver as we capture the more than $3 billion annualized sales growth opportunity we’ve outlined.”

 

Schlesinger continued, “For the third quarter, we expect core sales to grow to approximately $3.7 billion, with continued adoption of our new optical connectivity products for generative AI. We expect core EPS to grow much faster than sales and to be in the range of $0.50 to $0.54. We’re well on our way to delivering our ‘Springboard’ plan.”

 

Second-Quarter 2024 Results and Comparisons

(In millions, except per-share amounts)

 

Results (GAAP)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 2024

 

 

Q1 2024

 

 

Q2 2023

 

 

Q/Q

 

 

Y/Y

 

Net Sales

 

$3,251

 

 

$2,975

 

 

$3,243

 

 

9%

 

 

 

Net Income (1)

 

$104

 

 

$209

 

 

$281

 

 

(50%)

 

 

(63%)

 

Diluted EPS

 

$0.12

 

 

$0.24

 

 

$0.33

 

 

(50%)

 

 

(64%)

 

 

(1) Represents GAAP net income attributable to Corning Incorporated.

 

Core Results (Non-GAAP)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 2024

 

 

Q1 2024

 

 

Q2 2023

 

 

Q/Q

 

 

Y/Y

 

Core Sales (1)

 

$3,604

 

 

$3,258

 

 

$3,482

 

 

11%

 

 

4%

 

Core Net Income (1)

 

$407

 

 

$330

 

 

$388

 

 

23%

 

 

5%

 

Core EPS (1)

 

$0.47

 

 

$0.38

 

 

$0.45

 

 

24%

 

 

4%

 

 

(1) Core performance measures are non-GAAP financial measures. The reconciliation between GAAP and non-GAAP measures is provided in the tables following this news release as well as on the companys website.

 

Second-Quarter 2024 Segment Results

(In millions)

 

The second-quarter results below are prepared on a basis consistent with Corning’s segment reporting as presented in the company’s consolidated financial statements.

 

Optical Communications

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 2024

 

 

Q1 2024

 

 

Q2 2023

 

 

Q/Q

 

 

Y/Y

 

Net Sales

 

$1,113

 

 

$930

 

 

$1,066

 

 

20%

 

 

4%

 

Net Income

 

$143

 

 

$100

 

 

$140

 

 

43%

 

 

2%

 

 

In Optical Communications, second-quarter sales were $1.1 billion, up 20% sequentially, marking a return to growth. Year over year, sales increased 4%, reflecting record sales in the Enterprise portion of the business, which was up 42%, driven by AI-related connectivity solutions. Second-quarter net income was $143 million, up 43% sequentially, driven by strong incremental profit on the higher volume.

 

In the third quarter, Corning and Lumen Technologies reached an agreement that reserves 10% of Corning’s global fiber capacity for each of the next two years to facilitate Lumen’s build of a new network to interconnect AI-enabled data centers. This will be the first outside-plant deployment of Corning’s new generative-AI fiber and cable system, which enables Lumen to fit two to four times the amount of fiber into their existing conduit.

 

Display Technologies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 2024

 

 

Q1 2024

 

 

Q2 2023

 

 

Q/Q

 

 

Y/Y

 

Net Sales

 

$1,014

 

 

$872

 

 

$928

 

 

16%

 

 

9%

 

Net Income

 

$258

 

 

$201

 

 

$208

 

 

28%

 

 

24%

 

 

In Display Technologies, second-quarter sales were $1 billion, up 9% year over year. Net income was $258 million, up 24% year over year, reflecting higher volume and price.

 

Specialty Materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 2024

 

 

Q1 2024

 

 

Q2 2023

 

 

Q/Q

 

 

Y/Y

 

Net Sales

 

$501

 

 

$454

 

 

$423

 

 

10%

 

 

18%

 

Net Income

 

$63

 

 

$44

 

 

$33

 

 

43%

 

 

91%

 

 

In Specialty Materials, second-quarter sales were $501 million, up 18% year over year, driven by continued strong demand for premium glass for mobile devices and semiconductor-related products. Second-quarter net income was $63 million, up 91% year over year.

 

Environmental Technologies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 2024

 

 

Q1 2024

 

 

Q2 2023

 

 

Q/Q

 

 

Y/Y

 

Net Sales

 

$431

 

 

$455

 

 

$457

 

 

(5%)

 

 

(6%)

 

Net Income

 

$97

 

 

$105

 

 

$107

 

 

(8%)

 

 

(9%)

 

 

In Environmental Technologies, second-quarter sales were $431 million, down 6% year over year, reflecting the impact of the Class 8 truck downcycle in North America, as anticipated. Net income was $97 million, down 9% year over year, on the decreased volume.

 

Life Sciences

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 2024

 

 

Q1 2024

 

 

Q2 2023

 

 

Q/Q

 

 

Y/Y

 

Net Sales

 

$249

 

 

$236

 

 

$231

 

 

6%

 

 

8%

 

Net Income

 

$17

 

 

$13

 

 

$11

 

 

31%

 

 

55%

 

 

In Life Sciences, second-quarter sales were $249 million, up 8% year over year. Net income was $17 million, up 55% year over year.  

 

Hemlock and Emerging Growth Businesses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 2024

 

 

Q1 2024

 

 

Q2 2023

 

 

Q/Q

 

 

Y/Y

 

Net Sales

 

$296

 

 

$311

 

 

$377

 

 

(5%)

 

 

(21%)

 

Net (Loss) Income

 

($23)

 

 

($10)

 

 

$26

 

 

(130%)

 

 

*

 

 

* Not meaningful

 

In Hemlock and Emerging Growth Businesses, second-quarter sales were $296 million, down 21% year over year, primarily reflecting lower pricing for solar-grade polysilicon.

 

Upcoming Investor Events

In the third quarter, Corning will attend the J.P. Morgan Hardware & Semis Management Access Forum on Aug. 14 and Citi’s 2024 Global TMT Conference on Sept. 5. Corning will host an investor visit to company facilities in September. Additionally, Corning will be scheduling management visits to investor offices in select cities. Visit the company’s Investor Relations website for up-to-date conference information.

 

Second-Quarter Conference Call Information

The company will host its second-quarter conference call on Tuesday, July 30, at 8:30 a.m. EDT. To participate, individuals may preregister here prior to the start of the call. Once the required fields are completed, click “Register.” A telephone number and PIN will be auto generated and will pop up on screen. Participants will have the choice to “Dial In” or have the system “Call Me.” A confirmation email will also be sent with specific dial-in information. To listen to a live audio webcast of the call, go to the company’s Investor Relations events page and follow the instructions.

 

Presentation of Information in this News Release

This news release includes non-GAAP financial measures. Non-GAAP financial measures are not in accordance with, or an alternative to, GAAP. Corning’s non-GAAP financial measures exclude the impact of items that are driven by general economic conditions and events that do not reflect the underlying fundamentals and trends in the company’s operations. The company believes presenting non-GAAP financial measures assists in analyzing financial performance without the impact of items that may obscure trends in the company’s underlying performance. Definitions of these non-GAAP financial measures and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found on the company’s website by going to the Investor Relations page and clicking “Quarterly Results” under the “Financials and Filings” tab. These reconciliations also accompany this news release.​

 

With respect to the outlook for future periods, it is not possible to provide reconciliations for these non-GAAP measures because management does not forecast the movement of foreign currencies against the U.S. dollar, or other items that do not reflect ongoing operations, nor does it forecast items that have not yet occurred or are out of management’s control. As a result, management is unable to provide outlook information on a GAAP basis.

 

Caution Concerning Forward-Looking Statements

The statements contained in this release and related comments by management that are not historical facts or information and contain words such as “will,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “seek,” “see,” “would,” “target,” “estimate,” “forecast” or similar expressions are forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include estimates and assumptions related to economic, competitive and legislative developments. Such statements relate to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements relate to, among other things, the company’s future operating performance, the company’s share of new and existing markets, the company’s revenue and earnings growth rates, the company’s ability to innovate and commercialize new products, the company’s expected capital expenditure and the company’s implementation of cost-reduction initiatives and measures to improve pricing, including the optimization of the company’s manufacturing capacity.​

 

Although the company believes that these forward-looking statements are based upon reasonable assumptions regarding, among other things, current estimates and forecasts, general economic conditions, its knowledge of its business and key performance indicators that impact the company, there can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws.​

 

Some of the risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements include, but are not limited to: global economic trends, competition and geopolitical risks, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and China or other countries, and related impacts on our businesses’ global supply chains and strategies; changes in macroeconomic and market conditions and market volatility, including developments and volatility arising from health crisis events, inflation, interest rates, the value of securities and other financial assets, precious metals, oil, natural gas, raw materials and other commodity prices and exchange rates (particularly between the U.S. dollar and the Japanese yen, New Taiwan dollar, euro, Chinese yuan and South Korean won), the availability of government incentives, decreases or sudden increases of consumer demand, and the impact of such changes and volatility on our financial position and businesses; the duration and severity of health crisis events, such as an epidemic or pandemic, and its impact across our businesses on demand, personnel, operations, our global supply chains and stock price; possible disruption in commercial activities or our supply chain due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, international trade disputes or major health concerns; loss of intellectual property due to theft, cyber-attack, or disruption to our information technology infrastructure; ability to enforce patents and protect intellectual property and trade secrets; disruption to Corning’s, our suppliers’ and manufacturers’ supply chain, equipment, facilities, IT systems or operations; product demand and industry capacity; competitive products and pricing; availability and costs of critical components, materials, equipment, natural resources and utilities; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; the amount and timing of any future dividends; the effects of acquisitions, dispositions and other similar transactions; the effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; our ability to increase margins through implementation of operational changes, pricing actions and cost reduction measures; rate of technology change; adverse litigation; product and component performance issues; retention of key personnel; customer ability to maintain profitable operations and obtain financing to fund ongoing operations and manufacturing expansions and pay receivables when due; loss of significant customers; changes in tax laws, regulations and international tax standards; the impacts of audits by taxing authorities; the potential impact of legislation, government regulations, and other government action and investigations; and other risks detailed in Corning’s SEC filings. ​