Dow Chemical Reports Quarterly Loss as Demand Slumps

Thursday, 31 Jan 2013 07:29 AM

 

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink

Dow Chemical Co. reported a quarterly net loss on Thursday due to large restructuring charges and falling sales of specialty plastics and chlorine.

For the fourth quarter the company posted a net loss of $716 million, or 61 cents per share, compared with a net loss of 20 million, or 2 cents per share, in the year-earlier quarter.

Sales fell 1 percent to $13.92 billion.

Dow Chemical took a $990 million charge in the fourth quarter, part of a plan announced in October to lay off 5 percent of its workforce, close 20 plants and write down the value of its underperforming lithium ion battery business.


© 2014 Thomson/Reuters. All rights reserved.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved