Business News
DuPont: First Quarter 2008 Business Segment Performance
Friday 25. April 2008 - 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.