The New York Times-20080129-Corning Profit Rises

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Corning Profit Rises

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Corning Inc., the specialty glass maker, said on Monday that its fourth-quarter profit rose 11 percent, topping expectations, with strong demand for glass used in flat-screen televisions and computers.

Corning said the slowing economy had not affected its biggest business.

Earnings climbed to $717 million, or 45 cents a share, from $646 million, or 41 cents a share, in last year's fourth quarter. Sales rose 16 percent, to $1.58 billion.

Analysts polled by Thomson Financial expected net profit of 39 cents a share.