Dow Corning Corp. recently announced sales of $4.91 billion and net income of $547 million through the first three quarters of 2011. Sales in the third quarter increased 10% compared to last year’s third quarter as demand continued to grow despite global economic volatility.
The company reported sales of $1.66 billion for the third quarter of 2011, an increase of 10% compared to $1.51 billion in last year’s third quarter. Net income was $177 million, 1% higher than last year’s third quarter income of $176 million.
Year-to-date sales were $4.91 billion, an 11% increase compared to $4.41 billion in the same period last year. Net income was $547 million, 11% lower than last year’s $615 million.
“While demand for Dow Corning’s silicone-based products continued to grow in the third quarter, the pace of growth slowed in many regions-notably in North America and Europe,” said J. Donald Sheets, executive vice president and chief financial officer. “Significant increases in raw materials and energy prices continue to challenge profit levels.”
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