Dow Corning Q1 Profit Surges - Quick Facts

(RTTNews) - Dow Corning Corp., owned by Dow Chemical Co. (DOW) and Corning Inc. (GLW), said that its first-quarter net income attributable to Dow Corning surged to $190.9 million from $62.1 million in the same quarter last year.

Adjusted net income for the quarter was $109.3 million, higher than prior year's $66.4 million. Adjusted net income for the latest-quarter excluded gains from a derivative contract and long term sales agreements. Adjusted net income for the prior year quarter excluded restructuring expenses.

Net sales for the quarter grew to $1.524 billion from last year's $1.264 billion.

Dow Corning's Executive Vice President and Chief Financial Officer Donald Sheets said,"In 2014, Dow Corning is focusing on growth by providing our customers with industry leading products and services. We are confident that our product portfolio and talented team are well positioned to help return Dow Corning to the trajectory of growth we expect."