Word: sumit
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Dates: during 2006-2006
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...absorbing higher costs are also beginning to suffer. Consider the chemical industry, which needs petroleum as a feedstock, or raw material, for such products as polyvinyl chloride (for plastic pipe) and polyethylene terephthalate (for soda bottles). "You see the biggest impact across the board in plastics," says Morningstar analyst Sumit Desai. Back in 2003, hydrocarbon feedstocks and energy accounted for 36% of Dow Chemical's total costs. Last year they ate up 47% of total costs, yet the company still managed an earnings increase. But Dow reported this week that first-quarter net income fell 10% from a year...