Emerald Group Publishing Limited
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Dow reports fourth quarter and full-year results
Article Type: Industry news From: Pigment & Resin Technology, Volume 37, Issue 4
The Dow Chemical Company reported sales of $14.2 billion for the fourth quarter of 2007, 16 percent higher than in the same period last year, setting a new quarterly sales record. Net income for the quarter was $472 million, reflecting the impact of net after-tax charges of $334 million related to restructuring activities and purchased in-process research and development related to recent acquisitions, partially offset by a reduction in the provision for income taxes related to a change in the legal ownership structure of EQUATE. This compares to net income of $975 million in the fourth quarter of 2006, which included a net gain of $21 million for certain items. Year over year, volume was up 4 percent, with all operating segments showing increases. Stronger demand in Europe, Asia Pacific, Latin America and India, Middle East and Africa (IMEA) more than offset continued softness in North America. Price was 12 percent higher than the fourth quarter of 2006, with increases in all operating segments. These price gains largely offset significant increases in purchased feedstock and energy costs, which were 31 percent higher than the same period last year.