Courtesy of Benzinga.
Dow Corning Corp. (NYSE: GLW) today announced its financial performance for the first quarter of 2012. Dow Corning recorded sales of $1.52 billion and net income $70.5 million. Both sales and net income were lower than the first quarter of 2011. Additional information about Dow Corning’s financial results:
First Quarter Results
Sales were $1.52 billion, 4 percent lower than last year’s first quarter. While demand improved slightly over last year, prices were depressed globally. Price pressure coupled with high raw material costs resulted in a decline in product margins. Net income was $70.5 million, 61 percent lower than last year’s first quarter.
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