Welcome to the Corning Incorporated Third Quarter Results Conference Call. It is my pleasure to turn the call over to Ann Nicholson, division vice president of investor relations.

Thank you, Lola and good morning. Welcome to Corning's third quarter conference call. With me today is Wendell Weeks, Chairman and Chief Executive Officer and Jim Flaws, Vice Chairman and Chief Financial Officer. Before we begin our formal comments, I'd like to remind you that today's remarks contain forward-looking statements that fall within the meaning of the Private Securities Litigation Reform Act of 1995. These remarks involve a number of risks, uncertainties and other factors that could cause actual results to differ materially. These factors are detailed in the company's SEC reports. You should also note that this presentation contains a number of non-GAAP measures. A reconciliation can be found on our website. Now I'll turn the call over to Jim.

Thanks Ann. Good morning everyone. Today I will be focusing mainly on our results for quarter three and our outlook for quarter four. However, we had a significant announcement last week. So I’ll quickly recap that news and how it fits into our corporate strategy. Corning is a company of long history and a clear strategic framework, which has three main components. First, we grew up primarily through global innovation. Because of our innovation, our operating leverage brings risks, we also work to bring stability and balance to the company with conservative strategies and a broad portfolio of businesses to participate in diverse markets. And finally, we proactively live our values. Last week, we announced a series of agreements with Samsung that included an expanded technology cooperation and attaining full ownership of SCP. We also announced incremental returns to shareholders with a new stock repurchase program. Last week’s announcement fits very well within our strategic framework. First, it’s an outstanding financial transaction for the company and for our shareholders with strong accretion and increased cash flow. We will be putting that financial strength to work for shareholders immediately with the new buyback program. Second, it strengthens our LCD business worldwide with cost reduction opportunities, provides a simpler go-to-market approach and allows future lower capital spending. It enhances our ability to service all our glass customers, including Specialty Materials, Gorilla Glass customers. It enhances our 40-year relationship with Samsung and it preserves Corning’s independence, allowing us to work with all customers. This slide recaps the major elements of our announcement. Corning will become 100% owner of SCP’s LCD business. We will have a 10-year supply agreement with Samsung for LCD glass. We will expand our collaboration on technology development. Samsung will directly invest $400 million in Corning. And finally, we have…

Thank you, Jim. Lola, we'll open the lines now for questions.

Certainly. (Operators instructions) First we'll go to the line of Rod Hall with JPMorgan.

Yeah, good morning, guys. Thanks for taking my questions. So I wanted to pick off Jim with maybe a little bit of further color inventory. I mean the inventory was pretty volatile this year. We sort of got to the reduction that you'd call for at the end of the year or at the beginning of this year, but it's more than I think you guys were anticipating and I just wonder if you could talk about the sustainability of these inventory levels in 2014, kind of what should we feel be expecting to have a reduction over 2014 or do you think we hold the key level, just kind of what you are thinking there. And then also on the CapEx, just a clarification, are you guys into new CapEx number now including the elimination of that Chinese plant bill or is that still yet to come? And then on optical, if you could just talk a little bit about, if there is any more color you could give us in terms of what’s going on in North America, is this is a single carrier effect that you are seeing or is it more broad based in terms of what’s happening with optical fiber demand? Thanks.

Okay. That’s a lot of questions. So on inventory in the Display industry, inventory in absolute terms build as we march through quarter one and quarter two significantly and somewhat in quarter three. At the end of quarter two, we got to 18 weeks and now we are at 16. As we do that, we are always forward looking. So the drop from 18 to 16 really reflects the fact that Q4 forward-looking volumes are always so much higher. In quarter four, what we expect is the absolute non-inventory drop and we looked in the forward looking relative to Q1, I think we will be a little below 16 at 15.5. It’s our expectation right now that there is no reason for the inventory to be very different from this 15.5 to 16, frankly our precision our accuracy and ability to do that for week is pretty suspect. But I would say we are delighted by the fact that we think we are back about 16 level and maybe 15.5, because as you know we didn’t like being at 18. Relative to the CapEx question, Rod, the 1.1 is the forecast for this year and you may recall that China Television plant was never in Corning wholly owned numbers. So you would not be seeing that in any of the guidance that we would have been talking about. The drop from 1.3 to 1.1 reflects two elements. One, we are always a little slower in capital spending than what we think we are going to be. And the second, we are teasing given in the slightly moderate -- more moderate sales growth than what we expected, that’s probably split about half and a half. But the China is not a factor in that at all. Wendell, you want to comment on optical North America?

Sure. In North America, what we saw that this year we ended the stimulus program and that is what has led to the lower volume levels. We had expected that -- we did expect the stimulus to add and the volumes to drop as a result. But it was what base when it return to and we had expected the base to show a little more growth from what we are currently forecasting. On a longer-term basis, we are pretty bullish on North America. If you are a close watcher of the space, you would have seen comments from major carrier on that getting more aggressive on fiber-to-the-home, which we take as very encouraging.

Great. Thank you, guys.

Next, we’ll go to the line of Mark Sue with RBC Capital Markets.

Thank you. The pricing Display glass seems to have been moderate for a numerous quarters now and returns from the strong partner and important shareholder. Can we call victory on pricing -- little moderate pricing pre-sale, perhaps what’s been the response from non-Samsung customers? And if that’s the swing factor to watch in terms of pricing as we move into 2014. And then changing to overall early lead as we look into next year, how you feel about global demand for Display glass? And then, Wendell, just a follow-up on your question, if the fiber may have peaked due to these lack of stimulus now here in North America and if I look at some of the big projects overseas that seems to be winding down, how should we think about demand for fiber, is that just kind of a trough here that we should be intriguing to? Thank you.

I’ll start and then turn over to Wendell. On pricing for LCD glass, I don’t think you can declare permanent victory. We have to remain ever vigilant about this, but we are obviously delighted by what you mentioned, Mark, with a number of quarters were down, had a moderate level. I’d call your attention also to something we announced this morning and that is the renewal of the agreements that we announced last October, which had the structure of certain customers where our position was determined by the contract and the pricing would be related and that customer would be done by what the competition is of that customer. We are very excited to have those be renewed for this upcoming year of 2014. In some cases, we now have contracts that extend beyond 2014. So I'll never, in spite of all [retrieve] that we really made a lot of progress. Let me take the early read on 2014 and then I'll turn it over to you for the comments on what other customers are saying about the Samsung agreement. Our early read right now Mark is that we're heading into 2014 in a pretty good position in Display, if our expectation is right that there is a little pullback in utilization in Q4 at panel makers, we think that makes the inventory situation being very good heading into next year. And we continue to feel that, television sales will be strong. For us, it's all about size and as I reported we're seeing great year-over-year demand in large size televisions. And so, we're feeling pretty good about our early read on 2014 of for LCD. Wendell do you want to comment about reaction from other customers

I would say so far the reaction from other customers to our recent series of agreements with Samsung has been positive. I leave after the conference call today on a world tour to spend some time with (inaudible) face-to-face. But so far the reaction has been positive. We may view it as an enhancement of our ability to act independently across the globe and then that taking it as a positive. So more to come, once again we're vigilant on those items, in the end it will be our ability to innovate for them and serve them well that will keep them loyal with us. You also had a question on telecom I want to make sure I understand it. You are asking that, are we entering a slower period for telecom in the upcoming year, was that what you were asking?

Yes. Since the (inaudible) is one down here and some of the margin projects overseas seems to have peaked, we see long people or we see growth again maybe into 2015.

We're just putting together our view of that. I would say we have some opposing practice in terms of fiber volume, then I find that hypothesis that you are laying out has some merit in terms of fiber volume that a lot of it all pivots around China. And this year China was relatively flat in terms of fiber volume demand. And China can be okay as it looks forward. But I think your hypothesis has some merit on fiber demand, I think on overall telecom sales though it's a little different. We're seeing an awful lot of strength in enterprise those were all of our data center built machine and awful lot of strength in our wireless product set. So I think telecom sales are about a lot more than fiber volume. So I don't know that your hypothesis holds for overall telecom sales. Does that make sense to you?

Yes. That's helpful. Thank you and good luck gentleman.

Next we'll go to the line of Vamsi Mohan with Bank of America.

Yes. Thank you. Good morning. Jim, can you bridge the SCP equity income between Q2 and Q3. It looks like it's down from $117 million to $85 million, that's a 25% or so decline, was there incremental share loss there. And roughly what percent of SCP capacity is correctly unutilized and I will follow up?

So in quarter one and two we are averaging about $125 million net come, in quarter three we're $85 million and probably be about $80 million in quarter four, so there clearly is a step down, we've known this for a while. The impact is we continue to have price erosion and unlike our wholly owned business, we have no volume growth and actually have a little bit of volume decline. It is not a share loss. Share remains the same it has been at both our large customers in Korea. We did have some other impacts, some of the strength and income at SCP in earlier part of the year was actually they are making product and selling it through us under our old agreement. And you may recall that we've told in the first half of the year, a wholly owned business is relatively full. So we had SCP make product for us and under the old agreement they kept the majority of those profits. There also was a little FX impact in this quarter, but fundamentally not a share loss. But just there is not growth in demand in Korea right now and prices go down there and that impacted and we are not having them make product for us. And obviously this all resets when we get to the deal closing. Then we can use the worldwide capacity most efficiently. Relative to your comment on capacity in Korea, we have a significant amount offline there, but that significant amount offline comes about from what happened in the fourth quarter 2011 when the LG shares stepped down dramatically. So that’s where we have a big opportunity to use those very efficient tanks going forward.

Thanks. And as a follow-up, given the utilization rate cuts at panel makers that you alluded to? Can you talk about if you are taking this opportunity to also cut utilization rates in Display and what the anticipated gross margin impact from such cuts could be? Thank you.

You are seeing the gross margin impact in our corporate guidance which was down for the quarter that’s driven primarily by Display, some by Telecom. We have an enormous sequence of tank repairs coming up, so we will take advantage of those repairs that will allow us to throttle back a little. I do want to emphasize that this pull back from panel makers that we are talking about is not a significant one. We are talking about the -- our volume in Q3 down only a small percent, in Q4 to only a small percentages versus Q3. So it’s not a big deal but it is down.

Yeah. I would characterize it -- it’s really a feathering as we come out to that end of the year and the degree of precision on whether or not we will -- how much we will feather is in the pretty precision area. So this is subtle move. It’s not a significant move.

Thanks Wendell. I mean, but if I could just follow up to that, I mean, to get to a two to three-week reduction in inventory, that’s quite a material amount in inventory weeks. What sort of TV units sell-through, would you need for that inventory weak number to for a large sized TVs would you need to -- for that inventory number to move down by two to three weeks? Thanks.

Vamsi, I don’t think you realized that we have already achieved couple of weeks because of the forward looking. But as you know the television demand jumps up seasonally dramatically, in the square footage at retail in Q4 versus Q3 in absolute square feet goes up by 33% driven by the seasonality, primarily in North America and somewhat in Europe because of the holidays and obviously large sales -- large sized television of that. But we always see that type of seasonality. But we are -- it is that increase of a couple of 100 million square feet at retail, it gets pulled out of supply chain that causes the absolute number to come down.

Okay. Thanks, Wendell.

Next we go to the line of Amitabh Passi with UBS.

Hi, guys. I had a couple of questions as well. Jim, Wendell, for you this year, you talked about re-upping or renewing your contract. I was wondering if you can update us in terms of whether there were any changes and in even market share or pricing assumptions? And then, Jim, I wanted to confirm, if I look at your fourth quarter guidance? Do you anticipate core EPS to be down year-over-year. I wasn’t sure what you said about OpEx? And then my final question was just on the Gorilla Glass guidance? I would have expected a seasonal uptick in the fourth quarter, so just surprised that you are guiding sales to be sequentially flat? Thanks.

So Gorilla being sequentially flat, we did have some new model launches in Q3. I think there is a possibility, it could go up a little, but right now we are thinking it’s flat sequentially. You wanted to comment on the renewal of the contracts and the terms?

Sure. So we are really happy that to come to renewals to extend those contracts at least to the end of 2014. As Jims said, some of them now stretch beyond that. On -- in all of them, these are not market share gaining moves, these are market share stabilization move, so no change in our share at these customers and no change in the pricing mechanism.

Now I’ll finish up with your question about core EPS. Since you know we don’t give official EPS guidance. Our hope would be to have -- be flat sequentially but it’s possible with this down draft in Telecom because of the year-over-year seasonality we’re having this year, didn’t have last year and the fact that we don’t have any inventory build than Gorilla that we had last year, that we could be lower year-over-year on core EPS.

Okay, perfect. Thank you, guys.

Next we’ll go through line of Joseph Wolf with Barclays.

Hi, thanks for taking a couple of questions. Just quickly one on the CapEx with the reduction of about $200 million, how sure we’re thinking about a catch up next year or is it too early to think about that based on what’s changing given the Samsung deal? And then on the cover glass, you mentioned that the -- some of the large sizes were down and that turned some of the results. Could you talk about new opportunities that you may be seeing for Large Cover Glass maybe new designs or things that are out there for 2014?

Yeah, I’ll start up by the CapEx. The couple of $100 million being down, we’re not expecting that we will see a big role over into next year. We’re still holding right now our forecast of 13 for the next year. That excludes what would be the impact of consolidating Samsung, but I remind you when we consolidate Samsung’s ongoing capital and we do get the benefit of all their cash flow. But right now we’re expecting to be about 13 next year also. Wendell, you want to talk about Large Cover Glass?

Yes. So we continue to work at a number of different opportunities for Large Cover Glass. I think you’ll understand if I don’t speculate directly on the timing of those and the like. However we’re presuming them in both consumer electronics and non-consumer electronics applications. We’re not counting on a big surge in the near term, but we believe that long term there is a strong opportunity within and like, large area covers.

Great, thank you.

Next we’ll go through Stephen Parks with Cross Research.

Good morning. Just a follow up on the Gorilla Glass question, what changed between Q3 and Q4 because it seems like Q4 is a little bit weaker than you would have thought just a few months ago and then secondly given my understanding of what you’re saying about sell through of Gorilla Glass to retail level, is it to assume that once this inventory corrections are over that you’re still working for that type of growth next year? Thank you.

So I don’t think there’s been a real change (inaudible) from our point of view on Gorilla. We’ve been dealing with the inventory work off all year long, but if you -- the consumption cycle can vary by depending one moral roll ups happen. But clearly year-over-year consumption quarter four versus or '12 versus this year is up, so we feel pretty good about that sequence and that consumption level last year quarter four was down from quarter three just like it is slightly this year. We believe that we’ll be finished working off this pile of inventory that was built in quarter four last year after quarter four and the thing that we’re interested in is the growth of IT and handheld and roll out a touch on notebook should drive year-over-year growth for Gorilla next year.

So as we think about it Steve, I think the -- at the end market level, we’re seeing phones that are touch enabled up about 25% this year and tablets up about 30% and we see continued nice growth next year. I think though the --- always the challenging thing about forecasting quarter-to-quarter in Gorilla is the relatively long and complicated supply chain. Having Jim hit on, the good news which is, we believed that as we get through the fourth quarter of this year we will have worked to the last of the overhang of the over ordering from our customers in quarter four of last year. But I totally hear you, the supply chain, given its length and complexity can be difficult to forecast in any given quarter but the year-over-year trends at the consumption level continue to look good to us, Steve.

That’s totally fair. And then just one very quick follow-up, did you wind up shipping as much as you though into the touch notebook market for the second half of the year or how would you describe that? Thanks.

Our Touch on notebook, I think there is couple of areas. First of all, the overall penetration touch into notebooks has ended up being less than what we had thought it would be at the beginning of the year. Some of this has to do with the some of the challenges of Windows 8, some of it has to do with some of the challenges of what will notebooks work like with touch. Will they be convertible or will they just be notebooks that work just like a notebook but I can touch it to. And all of that I don't think has yet been work through with the clear product concepts by our brands. So I think the penetration is certainly lower than what we would have thought at the beginning of the year and the notebooks continue to be priced and volume challenged. We do believe that this will be overcome that touch will be an important part of notebooks going forward and that ultimately about half of them will be touch enabled. And what we’ll continue to do is work to devise product that makes that more compelling product as well as to deal with some of the lower end and attack of lesser materials because of the incredible price sensitivity of these notebooks and that no one is yet to find the way to turn touch into a compelling price feature.

Great. That’s all very helpful. Thank you very much.

Next we go to line of Jim Suva with Citi.

Hi. Thank you very much. I wanted to ask a question, on this acquisition of SCP, you laid down the 20% accretion. Can you talk a little bit about the implied buyback timing or character assumption under that. Is it for the whole $2 billion to be employed like on the very early part of the year or average through the year and what is Corning’s intention for that large stock buyback for the timing?

So we said 20%, we said approximately but our intent is to get those shares taken out of the market as soon as we can. So we have made a final decision on what we are doing in terms of whether we’re doing to accelerate stock repurchase program or not. As soon as we do make that decision, we’ll let you know, but our desire is to get them out of the share account for 2014.

Back to start. It sounds like in other words not average through the year rather very front end of this. So you can get the EPS benefit for the whole longevity of the year rather than spreading it gradually over the year. Is that correct?

That would be our tendency to try to lean that way.

Great. Thank you very much.

Next we’ll go to the line of Patrick Newton with Stifel.

Thanks for taking my question. I guess, first one for Jim or Wendell, I guess pertaining to your LCD price mechanisms been in place now for about four quarters and your announced renewal. I’m curious if you could discuss any competitive responses you have seen during this -- during this time?

Well, we try not to applying to much on what our competitors are doing but what’s happen for us on moderate price decline has obviously been influenced on those customers where we have these clauses on what our competitors do can have an impact. But I think overall the industry has seen moderate price declines, but I won’t comment more detail about our competitors. You obviously can look at your public statements.

All right. And then I guess on SCP, the $350 million in incremental income that you've guided to and implied the continued erosion of fundamentals at SCP relative to even the most reported quarter or the most recently reported quarter. I guess can you help us understand what to do comfort that these fundamentals are going to stabilize and what kind of thought process is behind you achieving your targeted $2 billion in free cash flow for the next four years?

I start out by saying we do expect erosion to continue at SCP in quarter four. And once we take over, we believe that we’ll have the ability to manage that operation in a way that we can stop the erosion. And so we expect to get synergies from better utilization of the world wide set of tanks that we have. We’ll be able to get out of some high cost facilities. We will -- we do expect volume growth next year. In a way, we’ll be thinking about this as -- we’ll no longer be telling you what SCP is. We’ll be telling you what our worldwide LCD business is and also our Gorilla business. Remember, this year we’ve been dealing with Gorilla basically not having the growth we expected because of the overhang of inventory. We’ll now get that growth again because we’re matching the consumption level and that’s got to come out of tanks that we need to operate and so that’s where we’re going to get some of the benefits going forward. But we’re pretty confident that we’ll be able to achieve that $350 million incremental.

I think, if we just take a look at the fundamentals here, we expect Korea has a market, the two customers in Korea to be relatively stable. They have been and we expect them to continue to. We’re quite happy with our market share in Korea and our customer share at both of those players. So for us, the acquisition is about cost reduction and being able to utilize that low cost capacity to deserve our growing other customer bases around the globe and that’s where that real stabilization comes from on the financials. To your first question, I would just amplify what Jim said is for us, these customer agreements aren’t about our competitors, they’re about our customers. And approaching, one of the main reasons that we’ve extended them is that we have noted and our customers have noted that it has significantly improved our ability to focus on what really matters to our customers around innovation, service, quality et cetera and it has taken the whole tone of our dialog and focused it on how do we improve each other’s situations in a more integrated way. So that’s one of the main reasons that we have extended it.

All right, thank you very much. And I guess just last one for me Jim is on Gorilla to make sure I understand what you are implying. It seems like you are now looking for flat to slightly up Gorilla revenue year-over-year given the 4Q guidance. And as recently last quarter, I believe you reiterated a 10% year-over-year Gorilla growth. You’ve been aware of the inventory issues now for several quarters. I’m curious it sounds like something on the demand side is kind of a delta between what you expected last quarter versus the new guidance. Am I reading the growth rate correctly? And if you could elaborate a little bit on what changed sequentially outside of the inventory? Thank you.

I’m struggling following your numbers for Gorilla.

I think this may be best if -- while we’re pausing here, are you talking about the consumption level that you saw on that slide or are you talking about our sell in?

If you can tell about your revenue recognition on Gorilla, I think by my math we don’t have an absolute number for 3Q. But I believe you said your guidance is flat on a revenue basis for Gorilla sequentially.

No, we said flat volume I believe.

Flat volume, okay. Well, that helps explain, I have to go and recheck with my math. But in essence, I guess that 10% number year-over-year growth I’m assuming is coming down slightly?

10% in, what?

You originally guided to Gorilla Glass or just revenue to grow 10% year-over-year in 2013?

That was a long time ago.

Because recently you last quarter you implied that was still…

It could have been sequential. I think we are probably best serve here. Maybe if you and Ian can do a follow-up and think of the -- and just think of the models, make sure we’re not plugged and passed each other. I think we are probably best serve by that and what more we are talking past each other.

Perfect. Thank you.

Next, we’ll go to the line of Brian White with Cantor Fitzgerald.

Yeah. I’m wondering if you could talk a little bit about -- you talked about 2014 and your expectation for TVs a little bit. What type of volume growth in glass should we be thinking about for 2014?

But we haven’t given official guidance yet for the market for next year. But I think that we’d be expecting probably directionally the glass demand in the absence of inventory shifts that we are not expecting, so it would be again in the upper single digits.

Okay. And the inventory situation in Gorilla, is that -- is that one customer or is that multiple customers?

Multiple Customers.

Multiple customers. Okay. And I just want to clarify, I may have missed, EPS growth was a little confusing. I thought you said flat quarter-on-quarter but then you came back and said year-over-year it could be flat. So, I just want to be clear, are you talking year-over-year or are you talking sequentially could be flat or slightly down

We said sequentially, EPS could be down and we said that year-over-year, EPS could be flat or slightly down.

Great. Thank you.

Next, we’ll go to the line of Simona Jankowski with Goldman Sachs.

Hi. Thanks very much. Just on the contract renegotiation. It seems like you guys completed that a bit earlier than last year and also for a longer-term, and also it seems like this year you didn’t have a price reset like you said last year, and all of this in the context of what seems to be an environment with a little excess inventory in the supply chain than what we had last year. So, is there anything we can read into that as far as Corning having a better structural or competitive position relative to a year ago?

Timing was identical to a year ago. But we said, you are referring to was the impact of the first initiation of this, as we had to get kind of reset in quarter four as a result of the agreement. But the timing was identical for those.

I think I would add. I think what you should read into it is that our customers are really delighted with the agreements. And so they like the way in which this allows us to work together and I think that’s why it seems like such a come easy event, is it something that our customers really want to do.

Got it. But, also it does seems extended for a longer period of time. It seems last year was just a one year extension or contract and this year it seems to have been for a longer?

So it’s a real mix by the customers and what we -- what our customer do is pick what they like and we were willing to agree to that. I think if we were willing, we probably could have gone even longer with more customers. But as, Jim, said for us, this takes cost and vigilance in each of these moves as we try to measure twice.

Okay. And then just a quick on Gorrilla, can you just characterize the competitive environment there and whether that has played any factor into the slightly lower expectations?

So really we haven’t see much change in the competitive environment. So it’s not a market share issue for us in any of the major brands. We continue to feel very good about our share. Now that being said, there is more growth in the very low end piece of the smartphone market or sort of white goods and for tablets, the know named tablets in China. And these are phones for instance that sell for like less than $150. In that area, we have not penetrated as highly as you would normally expect us to. But our competition there is not from other alumino-silicate glasses. It’s from just thin window glass with chem. exchanged. So what we’re doing now is we’re taking a look at what should we do in that market segment to compete against the very low end product that really -- we haven’t seen since the very beginning of the cover -- glass effort so long ago in handheld and tablet. We defeated that as an inferior material. And now we’ve got to figure out how to address it in a market segment that is addressing a different piece of the market. So the way I’m looking at, that’s a really nice opportunity. Sorry for the long answer, but I thought maybe a more wholesome answer would be helpful to you.

No, that was very helpful. Thank you.

Okay, we’ve got time for one more question.

Certainly and that will come from the line of Jagadish Iyer with Piper Jaffray.

Yeah, thanks for taking my question. Two questions; first, Jim you talked about the demand for 2014. I just wanted to hear you thoughts on what is your early read on supply in terms of the glass. We have talked about capacity being taken off line, but is there any early thought into how the supply is going to be for next year? And then I have a follow up.

So we think glass supply remains relatively stable. We’ve seen disciplined behavior by the glass industry including ourselves. So we’re not expecting any change in glass price as we head into 2014.

And as a follow up, just wanted to -- you did say that the inventory is going to be finished up by the end of Q4 for Specialty Materials. So I was just thinking about -- as we look at 2014 and as you start to roll out new products, how should we be thinking about growth rates for these new products potentially driving year-over-year growth in Specialty Materials for 2014 or it should we still expect consumer devices to be the -- the mobile devices to be the main driver here? Thank you.

I think you should continue to think about the mobile devices to be the main driver. I think you’ll see some touch on notebook improve as well. And most of the other areas around was format and other applications are going to be sort of slower moving as opposed to the speed you see out of mobile consumer electronics.

Thanks, Jagadish. Jim?

Just to wrap up comments, first on investor relation events; we’ll be attending the UBS Technology Conference on November 20 in a new location Sausalito, California. And second, we’ll have a group at the Credit Suisse Technology Conference on December 3 in Scottsdale. A brief summary of the highlights of the call; we remain very excited about last week’s announcement on the purchase of the remainder of SCP LCD business. We’re looking forward to closing the quarter one and realizing the synergies that Wendell was talking about from the integration. I think we’re delighted by our performance in Q3, strong results across all of our businesses. We’re expecting just normal seasonality in Q4, but obviously additional headwinds from China fiber demand. We are very happy with the progress return to positive momentum in Display, combining the synergies of the deal with Q4 moderate price declines and now the vast majority of our 2014 volume under contract should continue that momentum. For the company, we feel we’ve got fundamentals in our businesses that are solid. And lastly for you as shareholders, we’re very committed to continue to return more cash towards you. Ann?

Thank you, Jim and thank you all for joining us today. Playback of the call is available beginning at 11 o’clock eastern today and will run until 5 PM eastern on Wednesday, November 13. To listen, dial (800) 475-6701. The access code is 304926. And the audiocast of course is available on our website during that time. All of that concludes the call. Please disconnect all lines.