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DuPont News, October 23, 2007

Third Quarter Highlights, Net Income and Sales

  • Stock illustrationThird quarter 2007 earnings per share were USD 0.56 versus USD 0.52 in the third quarter 2006.  Excluding significant items, earnings per share increased 20 percent to USD 0.59 in the current quarter from USD 0.49 in the third quarter 2006. 
  • Sales rose 6 percent to USD 6.7 billion.  Excluding portfolio changes, sales grew 7 percent, reflecting 3 percent volume growth, 2 percent higher local selling prices and 2 percent currency benefit.
  • Strong revenue growth in all segments outside the United States more than offset lower U.S. demand.
  • Fixed costs as a percentage of sales improved 90 basis points from the prior-year quarter.
  • Segment pre-tax operating income margin increased to 14.2 percent from 13.3 percent in the prior-year quarter, excluding significant items.
  • DuPont now expects full year 2007 earnings to be USD 3.15 to USD 3.20 per share versus its previous outlook of about USD 3.15 per share, excluding significant items.

 

Global Consolidated Net Income and Sales

Consolidated net sales increased 6 percent to USD 6.7 billion in the quarter.  Excluding portfolio changes, sales grew 7 percent and sales generated outside the U.S. were 64 percent of total consolidated net sales.  Volume rose 6 percent outside the U.S., with significant growth in Latin America, led by the Agriculture & Nutrition segment. 

Net income for the third quarter 2007 was USD 526 million, or USD 0.56 per share including a USD 0.03 per share litigation charge.  Third quarter 2006 net income was USD 485 million, or USD 0.52 per share including a USD 0.03 per share benefit for insurance recoveries.