Dow Chemical Company posts second-quarter net loss
July 31, 2009
MIDLAND, MI — Dow Chemical Company posted their second-quarter earnings yesterday, which noted an 8 percent increase in the value of its shares, according to Forbes.
The company had a quarterly net loss of $435 million compared to a profit of $24 million in the year-ago quarter, the story stated.
Dow Chemical''s Chief Executive Andrew Liveris said: "''The United States economy has found bottom, but will be slow in recovering as unemployment continues to be a drag on consumer spending."
Dow''s revenue was lessened due to $957 million in second-quarter charges, the bulk of which were for corporate restructuring, the story noted.
Dow Chemical''s long-term debt stood at $21.98 billion at the end of the second quarter, up from $8.04 billion a year earlier, the story added.
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