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People & Business :: Earnings/Finance
Momentive Performance Materials' Loss Widens on Lower Prices
10:45 AM MDT | August 7, 2012 | Vincent Valk
Momentive Performance Materials reported a second-quarter loss of $88 million—compared to $11 million in the year-ago period—on pricing declines, a lower-margin product mix, and a small volume decline. Net sales fell 14% year-on-year (YOY), to $627 million. “Our results ... were impacted on a year-over-year basis by softer volumes and a negative mix as we experienced lower sales of some of our higher-margin products serving the electronics, semiconductor, and commercial construction markets. We also experienced softer market...
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