Dow Corning announces strong sales & income for Q3
29 Oct '05
2 min read
Performance-enhancing solutions provider Dow Corning Corporation reported adjusted net income of $113.2 million for the third quarter of 2005, a 38 percent increase from the $82.1 million reported in same quarter of 2004.
Through the first three quarters of 2005, adjusted net income was $375.5 million, 79 percent higher than the $209.8 million reported in the same period of 2004. Adjusted net income is a financial measure which excludes certain unusual items and which is reconciled to net income in an attachment to this news release.
Third quarter 2005 sales were $946.4 million, 14 percent greater than sales of $829.7 million in last year's third quarter. Through the first three quarters of 2005, sales were $2.94 billion, an increase of 18 percent from sales of $2.50 billion in the same period last year. Including all items, Dow Corning reported net income of $116.4 million for the third quarter of 2005 and $406.5 million for the first three quarters of 2005.
Strong worldwide demand for Dow Corning's products and services, along with internal productivity gains, contributed to the company's excellent results, according to Vice President and Chief Financial Officer J. Donald Sheets. "Despite pressure from increasing raw material and energy costs, their performance was enhanced by the value of silicon-based technology in many industries and their focus on customer success."
Dow Corning develops, manufactures and markets diverse silicon-based products and services, and currently offers more than 7,000 products to customers around the world. Dow Corning is a global leader in silicon-based materials with shares equally owned by The Dow Chemical Company and Corning, Incorporated. More than half of Dow Corning's sales are outside the United States.
marketing@alchempro.com
