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Dow Q1 sales up 33% at $13.4bn

By BFN News | 03:06 PM | Wednesday 28 April, 2010

First quarter sales at Dow Chemical rose 33% to $13.4bn. Top-line growth was driven by a 16% increase in volume and a 17% increase in price. Sales increased in all geographic areas with increases ranging from 26% in Latin America to 51% in Asia Pacific. Double-digit volume increases were reported in all geographic areas and in all operating segments versus the first quarter of 2009, except Basic Plastics and Health and Agricultural Sciences. The combined Performance Segments achieved a 26% increase in volume year-over-year, excluding Health and Agricultural Sciences, which was down from the record sales volumes of the first quarter 2009. First quarter EBITDA excluding certain items was $1.8bn - an $877m increase on 2009 on a pro forma basis, and up $356m on the last quarter. Within the combined Performance segments, EBITDA was up more than 60% versus the year-ago period. Net income from continuing operations for the quarter was $552m- up from $24m in the first quarter of 2009, and $178m last quarter. Story provided by Business Financial Newswire

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