People & Business :: Earnings/Finance
Momentive Earnings Decline on Epoxy, Silicones Weakness
11:03 AM MST | November 9, 2011 | Robert Westervelt
Momentive Specialty Chemicals, the thermoset resins operations of Momentive Performance Materials Holdings (Momentive), reported third-quarter net income of $39 million, compared with $116 million in the year-ago quarter. Revenue was $1.3 billion, up 8% from the prior year. Momentive Performance Materials, the silicones and quartz operations of Momentive, posted a net loss of $32 million, compared with net income of $29 million in the year-ago quarter. Sales declined 1%, to $653 million....
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