Dow Corning Q4 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 fourth-quarter 2014 net income attributable to the company declined to $37.2 million from $109.6 million in fourth quarter of 2013.

Adjusted net income for the quarter grew to $204.6 million from $102.9 million last year.

Net Sales for the quarter rose to $1.677 billion from $1.59 billion in the prior year.

Dow Corning's adjusted net income in 2014 was $522 million, an increase of 72 percent compared to 2013. Adjusted net income for 2014 and 2013, as applicable, excluded the impact of asset charges and restructuring expenses, a reduced implant liability, a foreign tax credit, a derivative contract and gains on long term sales agreements.