Corning Inc. provided earnings guidance for the first quarter 2012. For the quarter, the company expects gross margins to drop a percentage point primarily due to lower pricing in Display. Equity earnings, excluding special items will be down between 5% and 20%, depending on that potential of lower volumes at SCP and the lower earnings at Dow Corning. Other income is expected to fall by more than half, primarily due to lower royalty income. Tax rate, as expected, will move from 15% to 20% in the first quarter. Main drivers of the increase will be the expiration of certain tax holidays in Asia, the failure of Congress to pass the Extenders Bill and more profits and higher rate jurisdiction. As a reminder, this is a non-GAAP measure as it excludes special items.