Dow Electronic Unit, a business unit of
The Dow Chemical Company
), recently announced two new technologies for leading-edge
semiconductor and printed circuit board (PCB) manufacturing. The
company also announced that it has advanced with its extreme
ultraviolet (EUV) lithography development efforts.
Dow launched its first two polishing pad families under its new
IKONIC chemical mechanical planarization (CMP) pad platform. The
IKONIC pads are specifically designed to provide the best
performance for the broadest range of CMP applications at or
below the 28 nm technology node. The IKONIC pad platform comprise
a number of products that provide numerous benefits in copper,
tungsten, Inter-Layer-Dielectric (ILD), Shallow-Trench-Isolation
(STI) and other polishing applications.
The pads improve performance of higher wafer yields and help
extend the pad lifetime, leading to greater tool uptime. They are
instrumental in enhancing planarization efficiency and wafer
topography. These pads also comply with the removal rate targets
for throughput gains and selectivity requirements to address
The IKONIC pads platform addresses the ever-changing
technological needs. The pads are expected to hit the market in
2013 and are available for sampling presently.
Dow also introduced two new MICROFILL copper plating products
that enhance the performance of high density interconnect (HDI)
and IC substrate PCBs. MICROFILL products provide technologies
that develop miniaturization of next generation devices.
Dow has also developed extreme ultraviolet (EUV) lithography to
meet the size and performance requirements of next generation
Last month, Dow released its third quarter 2012 results. The
company earned 42 cents a share in the quarter, which is lower
than 62 cents (all excluding special items) in the year-ago
quarter. However, earnings in the quarter topped the Zacks
Consensus Estimate of 37 cents.
Dow's profits tumbled 39% year over year to $497 million as lower
pricing dragged down its sales in the quarter. The company also
witnessed weak demand for its products in the quarter, largely
stemming from the recessionary conditions in Europe.
Revenues slipped 9.7% (or 7% on an adjusted basis) year over year
to $13,637 million in the quarter, missing the Zacks Consensus
Estimate of $14,130 million. Sales fell across all segments
except Agricultural Sciences, which was the only bright spot in
the quarter. Revenues in Europe slid 10% largely due to
unfavorable currency translation.
The company competes with
EI DuPont de Nemours & Co.
) and currently retains a Zacks #3 Rank that translates to a
short-term (1 to 3 months) Hold rating. We currently have a
long-term (more than 6 months) Neutral recommendation on the
DU PONT (EI) DE (DD): Free Stock Analysis
DOW CHEMICAL (DOW): Free Stock Analysis
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