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DOW CORNING ANNOUNCES SECOND-QUARTER FINANCIAL RESULTS

 MIDLAND, Mich., July 15 /PRNewswire/ -- Dow Corning Corp. today reported second-quarter sales and net income for 1994. Sales were $552.4 million, up 6.3 percent from the $519.9 million recorded in the same period in 1993.
 Net income totaled $40.5 million, up 11.6 percent from the $36.3 million reported during the first quarter of 1993.
 For the first six months of 1994, revenues totaled $1.06 billion, up 5 percent from the $1.01 billion reported for the first half of 1993. Net income for the period was $77.7 million, up 16 percent from the $67 million earned during the same period in 1993.
 "Our second quarter reflects a healthy period of solid growth," said John Churchfield, vice president for planning and finance and chief financial officer, "especially when considering that 1993's second- quarter results still included sales and expenses of the metal orthopedic device business and the silicon metal plant at Springfield, Oregon, both of which are now sold."
 Churchfield also noted that rising sales, combined with employees' successful efforts to control expenses globally, were major factors bolstering performance.
 Sales growth was highest in Asia. Europe strengthened noticeably, and U.S. sales remained strong across a wide range of products. Recovery of cost increases through price improvements remained difficult throughout the first half of 1994.
 Dow Corning Corp., world leader in the production of silicones, is equally owned by The Dow Chemical Company (NYSE: DOW) and Corning Inc. (NYSE: GLW). More than half of Dow Corning's sales are outside the U.S.
 -0- 7/15/94
 /CONTACT: Christy A. Meter of Dow Corning, 517-496-8841/
 (DOW GLW)


CO: Dow Corning Corp. ST: Michigan IN: CHM SU: ERN

ML -- DE005 -- 5668 07/15/94 09:02 EDT
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Publication:PR Newswire
Date:Jul 15, 1994
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