Business News

DuPont 1Q 2011 Highlights, Net Income & Global Consolidated Sales

Monday 25. April 2011 - Customer-driven innovation contributed to the company achieving five consecutive quarters of pricing gains.

All segments recorded double-digit sales growth, driving a 31% increase in segment pre-tax operating income (PTOI), excluding Pharmaceuticals. Volumes were especially strong in the Safety & Protection, Agriculture & Nutrition and Electronics & Communications segments.
DuPont increased its full-year 2011 earnings guidance to a range of $3.65 to $3.85 per share from the previous range of $3.45 to $3.75 per share, excluding the impact of Danisco. As previously announced, the planned Danisco acquisition could reduce 2011 earnings by $.30-$.45 per share on a reported basis.
First quarter 2011 consolidated net sales of $10 billion were 18% higher than the prior year, reflecting 9% higher volume, 8% higher local prices and a 1% net increase from portfolio changes. The table below shows regional sales and variances versus the first quarter 2010.

Net income attributable to DuPont for the first quarter 2011 increased 27% to $1,431 million versus $1,129 million in 2010. The increase reflects higher sales volume and selling prices, partly offset by a $171 million decline in Pharmaceuticals pre-tax income due to patent expirations. Fixed costs improved to 35% of sales from 37% in the first quarter 2010, with productivity actions tracking on plan for the full year.