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Corning Inc. (NYSE: GLW), once a reliable but slow-growth kitchenware company, today represents one of the signature corporate transformation stories of the digital age. Corning is one of the leading providers of fiber-optic cable, which, by the way, the company invented more than 30 years ago. Further, its substrates business did not draw Wall Street's attention until technological advances enabled the price-competitive production of flat panel displays in flat panel televisions, desktop monitors and notebook computers.
Display technology currently accounts for about 43% of revenue, with analysts projecting solid revenue increases in the immediate years ahead. Or, in other words, as Samsung, Sharp and Sony (NYSE: SNE) go, so goes Corning, for the most part. Analysts also see impressive revenue gains for the company's fiber-optic businesses, and its solid balance sheet and good cash flow add to GLW's strong operational characteristics.
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