Business News

Du Pont: Fourth Quarter Highlights

Wednesday 23. January 2008 - Sales increased 11 percent to USD 7.0 billion, reflecting 3 percent volume growth, 3 percent higher local selling prices, 4 percent currency benefit and a 1 percent net benefit related to portfolio and other changes.

Sales in emerging markets grew 20 percent, led by Brazil, China and India. Sales in the United States grew 5 percent despite lower U.S. housing starts and auto builds.
Local selling price gains more than offset higher ingredient costs.
Fixed costs as a percentage of sales improved 210 basis points from the prior-year quarter.
Fourth quarter 2007 segment pre-tax operating income (PTOI) increased 30 percent to USD 937 million, excluding significant items. Segment PTOI margin on the same basis improved 210 basis points.

Global Consolidated Sales & Net Income
Consolidated net sales increased 11 percent to USD 7.0 billion in the fourth quarter. Outside the United States, sales increased 14 percent, boosted by 20 percent growth in emerging markets, particularly Brazil, China and India.
Net income for the fourth quarter 2007 was USD 545 million, or USD .60 per share, including a net benefit of USD 23 million, or USD .03 per share, for significant items. Fourth quarter 2006 net income was USD 871 million, or USD .94 per share, including a net benefit of USD 449 million, or USD .49 per share, for significant items.

Outlook for 2008
The company today reaffirmed its 2008 full-year earnings outlook of USD 3.35 to USD 3.55 per share announced on January 9. For the first quarter 2008, the company expects to earn USD 1.12 to USD 1.17 per share. In the first quarter 2007, the company earned USD 1.07 per share, excluding a USD .06 significant item charge.