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People & Business :: Companies

Dow Corning Net Income Rises 3% on Long-Term Sales Contracts

10:21 AM MST | February 3, 2012 | Vincent Valk

Dow Corning saw net fourth-quarter net income rise 3% year-on-year, to $260 million, the company says. Fourth-quarter sales were down 4%, to $1.52 billion, due to soft pricing. Adjusted net income, which excluded a gain on long-term sales agreements, fell 53%, to $76.8 million. For the full year, sales rose 7%, to $6.43 billion, while net income fell 7%, to $806 million.   “We were unable to translate record 2011 sales into increased profits due to oversupply and softening demand in our industry combined with higher materials and energy costs. ...

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