Dow: Record Sales and Profit in 2007
Dow Corning Corp., Midland/USA, reports consolidated net income of USD 167.1 million (approx. EUR 112 million) for the fourth quarter of 2007, equal to net income reported in the same quarter of 2006. For all of 2007, net income was USD 690.1 million (approx. EUR 466 million), a record high and an increase of 15 % from adjusted net income of USD 601.8 million (approx. EUR 406 million) in 2006. Last year’s adjusted net income excludes a gain from a settlement with the U.S. Internal Revenue Service in the second quarter. No unusual items were adjusted from 2007 results.
Sales were USD 1.29 billion (approx. EUR 871 million) in the fourth quarter of 2007, 11 % higher than sales of USD 1.16 billion (approx. EUR 783 million) in the same quarter of 2006. The fourth quarter marked the eighth consecutive quarter of record sales for Dow Corning. Sales for all of 2007 were USD 4.94 billion (approx. EUR 3,3 billion), 13 % higher than sales of USD 4.39 billion (approx. EUR 3 billion) in 2006.
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