Dow Earnings Fall Despite Price Increases

Midland, MI, July 24, 2008–Despite two price increases in the second quarter, sharply higher costs for energy and raw materials contributed to a 27 percent decline in profit for the period for Dow Chemical.

The company reported net income for the three-month period of $762 million, or 81 cents a share, compared with $1.04 billion, or $1.07 a share, during the same period last year.

However, revenue was up 23 percent to $16.38 billion, from $13.27 billion.

Dow also says it expects the U.S. economy to weaken for the rest of the year.