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Dow Chemical Earnings Slump on Customer Destocking, Soft Demand
2:49 PM MST | February 2, 2012 | Rebecca Coons and Vincent Valk
Dow Chemical reported a net loss of $20 million (2 cts/share) in the fourth quarter compared with earnings of $426 million (37 cts/share) in the year-ago period. Excluding one-time charges, the company posted earnings of $289 million (25 cts/share). Analysts expected earnings of 30 cts/share, as reported by Thomson Reuters (New York). Tax issues in Brazil comprised most of the one-time charge. Sales increased 2%, to $14 billion, with increases across all geographic regions and segments except electronic and functional materials, where sales were flat...
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