Bombardier To Ground About 60 Planes The aircraft maker recommended grounding the Q400 turboprop airplanes after two were involved in landing-gear failures this week.... Read Full Article A Neighbor Joins The Revival Of Jamaica Avenue A Manhattan-based developer will give the old Queens Family Court building in downtown Jamaica a makeover.... Read Full Article ?Mountains? And Messiaen In A Music Project’s Gift This ensemble is such a handsome gift to the listening public one can only hope that these first-rate young players are learning as much as we are.... Read Full Article Islamist Again Seeks Turkish Presidency ANKARA, Turkey (AP) -- Turkey’s Islamic-oriented ruling party decided Monday to renominate the religious-leaning foreign minister for president, raising the possibility of another showdown with secula... Read Full Article Cranky Mischa Caught Topless Mischa Barton was enjoying a relaxing holiday on Hamilton Island until a paparazzo snapped her sunbaking topless.... Read Full Article |
Dow Chemical’s Profit Falls 21.3%GRAND RAPIDS, Mich., Oct. 25 (AP) — The Dow Chemical Company said Thursday its profit fell 21.3 percent in the third quarter because of changes in German tax laws, higher domestic tax rates and charges for research and development. The company, based in Midland, Mich., posted net income after paying preferred dividends of $403 million, or 42 cents a share, compared with a year-earlier profit of $512 million, or 53 cents a share. The quarter was weighed down primarily by a provision for income taxes of $659 million, which was substantially higher than a tax provision of $137 million a year earlier. Excluding items, Dow reported profit of 84 cents a share for the three months that ended Sept. 30. Sales rose 10 percent to $13.59 billion from $12.36 billion a year earlier, increased by a 19 percent jump in Dows agricultural sciences segment, a 12 percent increase in performance plastics and a 7 percent rise in performance chemicals. The performance plastics segment makes materials used in automotive products and building and construction products. The performance chemicals unit produces ingredients used in the production of food, drug and paint products. Analysts polled by Thomson Financial, on average, expected earnings of 90 cents a share on revenue of $12.65 billion. Thomson estimates typically exclude one-time items. Dow shares fell 32 cents to close at $43.66. Demand was strongest in the Europe, Asia Pacific and Latin America regions, Dow said. Global economic conditions remain reasonably healthy, even though there may be some concerns about the resilience of the U.S. economy going forward, said Andrew N. Liveris, Dows chairman and chief executive. It was a solid quarter for Dow despite continued higher costs for raw materials and energy, he said. We achieved solid price increases across every business and in every geographic region, Mr. Liveris said in a written statement. We saw strong volume improvements in all but one of our operating segments. Tag CloudExternal InformationAdditional InformationO?Reilly, the Auto Parts Chain, Buys a Rival...European airlines face squeeze on profit... Japanese Parent of Talbots Cuts Outlook... Eaga to lead BBC digital switchover... Where Am I?News Main Page - Business - Dow Chemical’s Profit Falls 21.3% |
i8news.com |