Dow Corning Corp. today announced sales of $3.02 billion, an increase of 12 percent over 2013, and net income of $300 million. Adjusted net income in the first half of 2014 was $209 million, an increase of 20 percent compared with the first half of 2013.
Adjusted net income for 2014 excluded gains from a derivative contract and long term sales agreements. Adjusted net income for 2013 excluded restructuring expenses. Additional information about Dow Corning's financial results:
Second Quarter Results
Sales were $1.50 billion, 5 percent higher than last year's second quarter
Adjusted net income was $100 million, 7 percent lower than last year's second quarter
Silicones segment sales grew in most geographies; significant growth in transportation and electronics applications
Profits in both the Silicones and Polysilicon segments were tempered by inflation from raw materials costs
Year-to-Date Results
Sales were $3.02 billion, 12 percent higher than the first half of last year
Adjusted net income was $209 million, 20 percent higher than the first half of last year