DuPont News, April 23, 2008
First Quarter 2008 Business Segment Performance
Following are business segment highlights comparing first quarter 2008 results to first quarter 2007.
Agriculture & Nutrition
- Sales increased USD 433 million, or 18 percent, to USD 2.9 billion, reflecting strong global demand favoring seed technology and crop protection products.
- PTOI increased 21 percent to USD 786 million, reflecting increased sales of higher value products net of planned growth investments and higher input costs.
Coatings & Color Technologies
- Sales increased 6 percent to USD 1.6 billion as weakness in North American motor vehicle and construction markets was more than offset by higher USD selling price outside North America.
- PTOI was USD 190 million compared with USD 194 million in the prior-year quarter. PTOI reflects pricing gains in refinish and industrial coatings and benefits from cost productivity and currency. These gains were offset by lower volumes and the absence of a prior-year quarter USD 16 million hurricane-related insurance recovery.
Electronic & Communication Technologies
- Sales grew 12 percent to USD 1.0 billion and PTOI increased 41 percent to USD 175 million, reflecting strong demand for refrigerants and photovoltaic products.
Performance Materials
- Sales grew 8 percent to USD 1.7 billion from continued strength in Asian and European automotive and packaging materials markets.
- PTOI increased 46 percent to USD 219 million in the quarter. Excluding a USD 52 million significant item charge in the prior year, PTOI increased 8 percent. Sales improvement was partially offset by higher cost ingredients and costs associated with manufacturing process consolidations.
Safety & Protection
- Sales were USD 1.4 billion, equal to the prior-year quarter. Excluding the impact of a chemical business divestiture, sales grew 4 percent. The impact of positive USD pricing and growth in emerging markets was largely offset by lower volumes in U.S. construction markets.
- PTOI was USD 272 million, down 7 percent reflecting lower volume, higher costs associated with growth investments and the impact of a divested business.
Additional information on segment performance is available on the DuPont Investor Center website at www.dupont.com.