Dow Corning Q1 Profit Down - Quick Facts

(RTTNews) - Specialist in silicone and silicon-based technology Dow Corning Corp., which is equally owned by Dow Chemical Co. (DOW) and Corning Inc. (GLW), reported that its net income attributable to Dow Corning for the first quarter of 2015 declined to $185.4 million from $190.9 million in the first quarter of 2014.

Dow Corning's first quarter results decreased due to fewer polysilicon shipments to long-term contract customers. These contracts have a degree of variability when customers take their product and recent order patterns have resulted in customer orders being concentrated in the fourth quarter.

Adjusted net income for the first quarter was $101 million, a decrease of 8 percent compared to last year.

Quarterly sales were $1.36 billion, 11 percent lower than last year's $1.52 billion.