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Dow Chemical 4Q higher
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January 27, 2000: 6:05 a.m. ET
Earnings top year earlier and estimates; sales increase 17%
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NEW YORK (CNNfn) - Dow Chemical Co. reported higher fourth-quarter earnings Thursday that well exceeded analysts' estimates.
The Midland, Mich.-based chemical maker posted earnings before extraordinary items of $1.49 a share, up from $1.10 a year earlier and above the $1.34 consensus of analysts surveyed by First Call.
Including extraordinary items, Dow posted net income of $267 million, or $1.19 a diluted share, up from $144 million, or 65 cents a year earlier.
Sales rose 17 percent to $5.2 billion.
For the full year, Dow posted net income of $1.33 billion, or $5.93 a diluted share, up from $1.30 billion, or $5.76, in the prior year. Sales edged higher to $18.93 billion from $18.44 billion in 1998.
The company said the improved earnings came despite increased energy costs that outstripped product price hikes. Plastics sales rose 24 percent from the year-earlier quarter.
Dow Chemical (DOW) shares closed Wednesday at 121-1/4, down 13/16. 
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