On Air Now

Tune in to Listen

99.9 FM Hibbing, MN

Weather

Current Conditions(Hibbing,MN 55746)

More Weather »
56° Feels Like: 56°
Wind: S 5 mph Past 24 hrs - Precip: 0.17”
Current Radar for Zip

Tonight

Isolated Thunderstorms 51°

Tomorrow

PM Thunderstorms 77°

Thurs Night

Scattered Thunderstorms 60°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Dow Chemical reports quarterly loss as demand slumps

(Reuters) - Dow Chemical Co reported a quarterly net loss on Thursday due to large restructuring charges and falling sales of specialty plastics and chlorine.

For the fourth quarter the company posted a net loss of $716 million, or 61 cents per share, compared with a net loss of 20 million, or 2 cents per share, in the year-earlier quarter.

Sales fell 1 percent to $13.92 billion.

Dow Chemical took a $990 million charge in the fourth quarter, part of a plan announced in October to lay off 5 percent of its workforce, close 20 plants and write down the value of its underperforming lithium ion battery business.

(Reporting By Ernest Scheyder; Editing by Gerald E. McCormick)

Comments