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Dow Agro posts record fourth quarter profit

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Indianapolis-based Dow AgroSciences on Thursday reported record fourth quarter and annual revenue on strong sales of new products and above-average growing seasons.

Fourth-quarter revenue grew 5 percent, to more than $1.3 billion, compared with the same period in 2010. For the entire year, sales increased to $5.7 billion.

Earnings before interest, taxes, depreciation and amortization were $145 million in the quarter ended Dec. 31, a fourth-quarter record and double the $72 million reported for the 2010 period.

The company, a unit of Midland, Mich.-based Dow Chemical Co., reported sales and volume gains in all geographic areas, led by Latin America.

Dow Chemical, meanwhile, posted a loss in the fourth-quarter because of a one-time charge that caused it to pay higher taxes at its Brazilian operations.

Shares fell nearly 3 percent in trading before the opening bell.

The nation's largest chemical maker reported a loss of $20 million, or 2 cents per share, compared with a year-ago profit of $426 million, or 37 cents per share. Excluding a charge of 27 cents per share, Dow would have earned 25 cents per share in the quarter.

Revenue rose 2 percent, to $14.1 billion.
 

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

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