IBJNews

Dow AgroSciences profit falls despite revenue increase

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis-based Dow AgroSciences said Tuesday it posted a profit of $69 million in the fourth quarter, down 19 percent from the prior year, because of increased research and development spending and higher administrative expenses.

Revenue rose 17 percent, to $1.1 billion, from $920 million in the fourth quarter of 2008.

Dow Agro, the health and agriculture subsidiary of Midland, Mich.-based Dow Chemical Co., reported revenue of $4.5 billion for the full year, down from $4.6 billion in 2008. Annual earnings before interest, taxes, depreciation and amortization dropped to $577 million from $892 million.

Quarterly profits were affected by higher research and development costs and a 15 percent increase in what the company calls Selling, General and Administrative expenses. Dow said the increase was driven by new product launches and commercial activities related to newly acquired seed companies.

Overall, Dow Chemical reported fourth-quarter profit of $87 million, up from a loss of $1.6 billion in the prior-year period, on revenue of $12.5 billion. For the year, the parent company’s profit dropped to $336 million from $579 million in 2008; revenue totaled $44.9 billion.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
thisissue1-092914.jpg 092914

Subscribe to IBJ
ADVERTISEMENT