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The company reported a loss of US$0.02/share (US$0.37 yr-on-yr) or earnings of US$0.25/share (US$0.47 yr-on-yr) excluding certain items.
Earnings for the quarter were reduced by certain items totalling US$0.27/share, including the recognition of a valuation allowance in Brazil that increased income taxes by US$264M, equivalent to US$0.23/share, resulting in a 76.6% effective tax rate.
Sales were US$14.1bn, up 2% yr-on-yr. Sales in emerging geographies were US$5bn, reaching a quarterly record.
Dow reported full-year 2011 earnings of US$2.05/share up 19% yr-on-yr. Excluding certain items, Dow’s full-year 2011 earnings were US$2.54/share, up 29% yr-on-yr. Sales reached US$60bn, up 12% yr-on-yr and a record for the company.
