Dow Beats on Emerging-Market Gains

MIDLAND, Michigan ( TheStreet) -- Dow Chemical ( DOW) said fourth-quarter earnings topped analysts' expectations as sales rose in emerging markets.

Net income from continuing operations, excluding items, rose to $625 million, or 47 cents a share, from $286 million, or 18 cents a share, a year earlier.

Sales rose 22% to $13.8 billion on double-digit gains in all geographic areas and in all operating segments except one - sales at coatings and infrastructure rose 6%, the company said in a press release Thursday.

Analysts surveyed by Thomson Reuters expected Dow to earn 35 cents a share on revenue of $12.48 billion.

In an email to TheStreet, Dow said emerging markets accounted for about one-third of sales.

Sales in emerging regions totaled $4.5 billion, a quarterly record, Dow said. Sales in Thailand rose 33%, while sales in India jumped 31%.

"Dow is well-positioned for the improving economic climate and will continue to benefit from growth in high-margin sectors, such as electronics and packaging, driven by innovative products and technologies, coupled with our expanding presence in emerging markets," said Dow Chairman and CEO Andrew Liveris.

Dow said fourth-quarter volume increased 12% at the company level vs. a year earlier, led by North America and Europe.

-- Written by Joseph Woelfel

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