Dow Corning Corp. Wednesday reported adjusted net income of $66.4 million in the first quarter, down 6 percent from a year earlier. Sales were $1.26 billion, down 17 percent from a year earlier.
Dow Corning Sees Projected Global Growth of LED Lighting Linked to Adoption of Advanced Optical Silicones
The global LED market’s average compound annual growth will be as high as 33 percent through 2016, according to analyst firm McKinsey & Co. Midland-based Dow Corning — a global leader in silicones, silicon-based technology and innovation — expects that much of that growth will be contingent on the adoption of more advanced materials technologies.
Dow Corning recorded 2012 sales of $6.12 billion, down from $6.43 billion in 2011. Net income was $188 million, down from $806 million a year earlier. The comapny said oversupply, economic volatility and high raw material costs significantly reduced the company’s profits.
Dow Corning and IBM scientists Monday unveiled what they said was a major step in photonics, using a new type of polymer material to transmit light stead of electrical signals within supercomputers and data company.
Dow Corning Corp. Friday announced net income of $97 million for the third quarter ended Sept. 30, down 45 percent from $177 million in the same quarter a year earlier. Revenue for the quarter was $1.55 billion, down 7 percnet from $1.66 billion a year earlier.
The latest staffing, leadership and boardroom news from Michigan’s technology-focused companies, institutions and groups
In the second quarter of 2012, Saginaw Future directly assisted 10 companies that invested nearly $60 million, creating and retaining nearly 250 jobs.
Dow Corning Corp. last week reported net income of $121 million in the second quarter, down 36 percent from $191 million a year earlier
Dow Corning Corp. Tuesday reported lower sales and net income in the first quarter of 2012 compared with year-ago figures.
Midland-based Dow Corning and the Centre for Vision in the Developing World are one step closer to delivering on their collaborative goal of providing vision correction and thereby improving education and quality of life for children in the developing world.
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