Dow AgroSciences reports record sales, higher earnings

July 27, 2011

Indianapolis-based Dow AgroSciences on Wednesday reported record second-quarter sales of $1.5 billion, up 18 percent from the same period a year ago.

Quarterly earnings before interest, taxes, depreciation and amortization also improved, from $196 million last year to $287 million in the quarter ended June 30.

The company attributed double-digit volume gains to higher prices and stronger demand for its products, as well as a strong growing season in Latin America.

Midland, Mich.-based parent company Dow Chemical Co., meanwhile, said second-quarter profit surged 73 percent on a combination of higher prices and increasing sales.

The company also said it predicts continued growth in major markets such as the United States and Europe.

Dow Chemical said second-quarter profit rose to $982 million, or 84 cents per share, up from $566 million, or 50 cents per share, a year ago.

Revenue increased 18 percent, from $13.6 billion to $16 billion.



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