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Dow Corning swings to profit

7:57 AM MST | February 6, 2014 | Rebecca Coons

Dow Corning reports net income of $110 million for its fiscal fourth quarter, compared with a loss of $101 million in the year-ago quarter, as customers purchased high volumes of polysilicon to meet contractual obligations. Pricing pressure continued to limit silicones margins, however. Adjusted net income increased 50% year-on-year, to $103 million, on sales up 7%, to $1.59 billion. Oversupply, persistently high raw material costs, and global trade policy instability have been ongoing issues for the polysilicon industry. Dow Corning is a 50-50 joint venture...

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