EARNINGS : Dow Chemical Dips 45% in Year
MIDLAND, Mich. — Dow Chemical Co. said today its profits dropped 36% in the fourth quarter and 45% for all of 1990 because of the weak economy and higher oil prices.
Dow said its earnings sagged to $273 million, or $1.01 a share, from $426 million, or $1.59 a share, in 1989’s last quarter. Sales for the quarter were $5.15 billion, up from $4.26 billion for the final quarter of 1989.
Dow said 1990 earnings fell to $1.38 billion, or $5.10 a share, from $2.49 billion, or $9.20 a share, in 1989.
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