Dow Chemical 3Q earnings fall 28 percent

[October 28, 2010]  MIDLAND, Mich. (AP) -- Dow Chemical says its third-quarter earnings fell 28 percent on a slew of one-time charges. Its adjusted results still topped Wall Street's expectations.

The Midland, Mich., company says it's seeing a solid recovery in demand in North America and Europe with "momentum" in emerging countries.

The nation's largest chemical manufacturer said Thursday its net income fell to $512 million, or 45 cents per share, from $711 million, or 63 cents per share, a year ago.

Excluding one-time items for restructuring and acquisitions among other things, the company says it earned 54 cents per share in the most recent quarter. Analysts expected 41 cents a share.

Revenue rose 7 percent to $12.87 billion. Analysts expected revenue of $12.81 billion.

[Associated Press]

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