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Article: DOW CORNING CHARGE IMPACTS DOW CHEMICAL'S QUARTERLY EARNINGS
- Article from:
- PR Newswire
- Article date:
- January 27, 1994
CopyrightCOPYRIGHT 1994 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MIDLAND, Jan. 27 /PRNewswire/ -- The Dow Chemical Company (NYSE: DOW) today announced a loss of 18 cents per share for the fourth quarter of 1993 compared to a loss of 92 cents per share in the same period in 1992. In the fourth quarter of 1993, Dow Corning Corporation, which is partially owned by Dow (50 percent shareholder), took a charge to cover its estimated liability for breast implant litigation, resulting in a $192 million or 70 cents per share after tax loss for Dow. A pretax charge of $433 million related to the consolidation of a variety of business activities globally was recorded by Dow in the fourth quarter of 1992.
Sales in the fourth quarter of 1993 were ...