Dow Chemical loses $486 million in 2Q

[July 30, 2009]  MIDLAND, Mich. (AP) -- Dow Chemical says it lost $486 million in the second quarter because of charges related to the buyout of rival Rohm & Haas and dismal sales for chemicals used in everything from plastic bags to cars.

The 47-cent per share loss, compares with earnings of $762 million, or 81 cents per share during the same period last year. Excluding special items and discontinued operations, Dow on Thursday reported adjusted earnings of 5 cents per share.

Revenue slid 31 percent to $11.32 billion, down from $16.35 billion in the prior-year period.

Analysts polled by Thomson Reuters forecast, on average, a net loss of 8 cents per share on revenue of $13 billion. Analysts typically exclude one-time items.

[Associated Press]

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