MIDLAND, Mich. (July 30)—Dow Corning Corp.'s adjusted net income rose 47 percent for its second quarter to $79.8 million as the silicone material supplier emerged from Chapter 11 bankruptcy protection. Sales jumped 20 percent to $851.9 million.
For the year's first half, adjusted net income increased 47 percent to $90.1 million as sales climbed 22 percent to $1.67 billion. Adjusted net income excludes unusual items such as restructuring costs and a cumulative adjustment to Chapter 11 interest expense.
"Dow Corning has emerged from Chapter 11 with a continued focus on meeting the needs of our customers in every industry we serve, in every geography," said Chief Financial Officer J. Donald Sheets.