On July 31, Dow Corning Corp. announced sales of $2.69 billion and net income of $149 million for the first half of 2013. Dow Corning's year-to-date sales and adjusted net income were down 13 percent and 9 percent, respectively, compared to 2012. Adjusted net income for 2013 excluded restructuring expenses.
Additional information about Dow Corning's financial results:
Second Quarter Results
- Sales were $1.43 billion, 9 percent lower than last year's second quarter.
- Q2 silicones segment sales were up nearly 6 percent compared to Q1.
- Polysilicon sales volume and prices remained challenged by industry oversupply.
- Adjusted net income was $107 million, 11 percent lower than last year's second quarter.
Year-to-Date Results
- Sales were $2.69 billion, 13 percent lower than last year.
- Adjusted net income was $174 million, 9 percent lower than last year.
