CORRECTED - UPDATE 3-Corning profit triples on LCD TV panel growth

(corrects spelling of Avian Securities in paragraph 6)

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By Franklin Paul

NEW YORK, April 29 (Reuters) - Corning Inc (GLW.N: Quote, Profile, Research) said on Tuesday consumer demand for flat-panel televisions grew in the first quarter, defying the weak U.S. economy, and tripling the specialty glass maker's profit.

The shares of the largest maker of glass for liquid crystal display screens jumped more than 4 percent after Corning forecast second quarter results that outpaced analysts views, saying demand for liquid crystal display televisions and computer monitors are unhurt by the U.S. economic slowdown.

Chief Financial Officer James Flaws said in an interview that U.S. demand for LCD at retail rose in January, February, and March versus corresponding periods one year ago.

"In our experience in past recessions, entertainment TV is not impacted very much," he said. "Consumers (typically) retreat from home buying and from new cars, and retreat to the home."

First-quarter net income rose to $1.03 billion, or 64 cents a share, from $327 million, or 20 cents a share, a year ago.

Analyst Andy Abrams of Avian Securities called the quarterly results "excellent," citing better-than-expected profit margins of over 52 percent.