Dow Chemical posts Q2 loss after charges
New York, July 30, 2009
Dow Chemical Company posted a second-quarter loss on Thursday, as sales slumped and the company took large charges to revamp its operations.
The company reported a net loss of $435 million, or 47 cents per share, compared with a profit of $24 million, or 3 cents per share, in the year-ago period.
Excluding one-time items and discontinued operations, the company reported a profit of 5 cents per share.
Sales fell 31 per cent to $11.3 billion.
Separately, Dow said Thursday it will sell some operations in Malaysia to Petronas for $660 million.-Reuters
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