Dow Corning Third Quarter Sales Up 10%
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.”
For more information, visit www.dowcorning.com.