- Posted February 07, 2012
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Dow Corning Corp. fourth quarter profit gets boost
MIDLAND (AP) -- Dow Corning Corp. said last Friday its fourth-quarter profit rose 3.6 percent, boosted by a one-time gain related to long-term sales agreements.
The private joint venture between industrial manufacturers Dow Chemical Co. and Corning Inc. earned $260 million, up from $251 million in the same quarter last year.
Excluding the one-time gain, the Midland, Mich.-based company said its adjusted profit fell to $76.8 million from $165 million. Revenue fell 3.8 percent to $1.52 billion from $1.58 billion.
Dow Corning said that while demand for its products was stable during the quarter, prices weakened in most parts of the world.
For the full year 2011, Dow Corning earned $806 million, down from $866 million in 2010. Sales rose to $6.43 billion from $6 billion.
Published: Tue, Feb 7, 2012
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