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.
â€œProfitability improved due to our ability to contain operating expense growth below the rate of sales growth,â€ said Donald Sheets, Dow Corning's vice president for planning and finance and chief financial officer.
â€œFirst-quarter sales growth was driven by unusually strong global volume growth and by stronger foreign currencies,â€
Sheets added in a 29 April company statement