GLW Q4:2007 Results

Corning came in better than expected on top and bottom line and guided higher than consensus for next quarter on earnings.

Strength showed in the display technologies segment, beating consensus estimates for that segment by roughly 5%. The telecom fiber segment hit consensus.

The stock is up a bit pre-opening. I think Corning is set up to have a banner year on the back of the forced digital television upgrade cycle the FCC has in place via the analog cut off set for 2009.

Under 15* earnings estimates of $1.70 (where I figure consensus estimates go after analysts raise numbers) which is under $25, it's probably a buy.

I wrote up some digital TV thoughts in a prior post: Digital TV is the driver