Dow Corning reports sales and profits for the first quarter of 2008

Date: 6 May 2008
Source: Dow Corning
Dow Corning Corp. on  2008.04.30 reported consolidated net income of $160.4 million for the first quarter of 2008, a decrease of 13 percent from net income of $183.6 million reported in the first quarter of 2007.

Sales were $1.28 billion in the first quarter of 2008, 8 percent higher than sales of $1.18 billion in the same quarter of 2007.

“Dow Corning’s sales increased in the first quarter, yet margins were strained due to increased raw materials and energy costs,” said Dow Corning’s Vice President and Chief Financial Officer J. Donald Sheets. “Our silicones revenues grew in the quarter; however as expected, polysilicon revenues and prices declined at our joint venture Hemlock Semiconductor as the company shifted to extended supply contracts.”

View Q1 2008 Condensed Consolidated Statements of Operations (pdf size: 40kb)

About Dow Corning

Dow Corning provides performance-enhancing solutions to serve the diverse needs of more than 25,000 customers worldwide. A global leader in silicon-based technology and innovation, offering more than 7,000 products and services, Dow Corning is equally owned by The Dow Chemical Company and Corning Incorporated. More than half of Dow Corning’s annual sales are outside the United States.

For additional information regarding this press release, please contact Jarrod Erpelding.

600450 Dow Corning reports sales and profits for the first quarter of 2008 glassonweb.com

See more news about:

Others also read

DowDuPont™ today announced the members of the future boards of directors of Dow, DuPont, and Corteva Agriscience™, establishing strong governance structures that will support the long-term value creation of each independent company.
We look forward to welcoming you at our booth #B59 in Hall 11 at glasstec, the world’s most important trade fair for the glass industry.
Dow High Performance Building will exhibit and present at GlassCon Global in Chicago, Illinois, on September 5 through 7.
New DOWSIL™ brand to be featured at AIA Conference on Architecture.
One of the leading events in global glass industry, Glass Performance Days, was held for the fourth time in Istanbul this spring.
DOWSIL™ Represents Combined Power of Dow and Dow Corning; Customers can Continue to Rely on Same Trusted Silicone Technologies for Façade Design.

Add new comment