Business News
DuPont Reports Third Quarter 2008 Results
Tuesday 21. October 2008 - Third quarter 2008 earnings per share were USD .40, including a hurricane-related charge of USD .16 per share. Excluding significant items, earnings were USD .56 per share compared to USD .59 per share in the third quarter 2007.
The company recorded a one-time pre-tax charge of USD 227 million or USD .16 per share in the third quarter for costs associated with clean up, restoration of manufacturing operations, and lost inventory resulting from hurricanes. Storm surge caused significant damage at the companys plant in Orange, Texas. The company declared “force majeure” for ethylene copolymers and certain other ethylene-based product lines. In addition to the USD .16 per share charge, the company estimates business interruption impacts from the hurricanes at about USD .02 per share in the third quarter and about USD .10 per share for the fourth quarter.
“Our businesses performed well in the third quarter despite hurricanes and slower economies around the world, reflecting the strong position of our science-based products in production agriculture, photovoltaics and emerging markets,” said DuPont Chairman and CEO Chad Holliday .