Dow Corning profits rise

By Patrick Raleigh, ERJ On-line news editor

Midland, Michigan-Dow Corning Corp. has posted a first quarter net income of $52.2 million, 45 percent higher than in the same period last year. Sales for the first three months of 2004 came in 24 percent higher at $814.3 million.

“Profitability improved due to our ability to contain operating expense growth below the rate of sales growth,” said Donald Sheets, Dow Corning's vice president for planning and finance and chief financial officer.

“First-quarter sales growth was driven by unusually strong global volume growth and by stronger foreign currencies,”

Sheets added in a 29 April company statement