Net income in the quarter was $32 million, or 17 cents a share, compared with a year-ago profit of $180 million, or 91 cents a share.
Excluding items, the company posted earnings of 69 cents a share, down from 90 cents a share, a year earlier.
Dow, in July, agreed to acquire rival Rohm and Haas for $15.3 billion, in a bid to expand its specialty chemicals business.
But last month Dow said it would not close the deal on schedule in light of deteriorating economic conditions and the failure of a key joint venture -- the proceeds of which were to fund the Rohm and Haas deal.
Rohm and Haas has sued Dow in a bid to force the largest U.S. chemical maker to close the deal.