Midland, Michigan – Dow Corning Corp. has announced a 5-percent rise in sales in its fourth quarter results compared to the fourth quarter of 2013.
While net income decreased 66 percent to $37 million on the quarter, the silicone supplier said that its sales rose by 9 percent while its net income increased by 36 percent throughout 2014.
“Dow Corning's adjusted net income in 2014 was $522 million, an increase of 72 percent compared to 2013,” it added.
During its fourth quarter, silicone segment sales continued to grow especially in the Americas, Greater China and Europe, said Dow Corning.
The growth was, according to the company, across a variety of markets, including transportation, construction, electronics, packaging and health care.”
"In 2014 Dow Corning demonstrated why we lead the silicon-materials industry, as we returned to a trajectory of sales and profit growth despite operating in an oversupplied industry and a significantly volatile marketplace," said Dow Corning's executive vice president and chief financial officer J. Donald Sheets.