Business News
DuPont: Fourth Quarter Highlights, Global Sales & Net Income
Wednesday 28. January 2009 - As anticipated, declines in construction, motor vehicle sales and consumer spending, magnified by inventory destocking across most supply chains during the fourth quarter, caused a steep decline in global industrial production.
These conditions precipitated a sharp downturn in demand and the companys sales volume. Agriculture fundamentals remain strong.
Weak industrial economic conditions are expected to continue in 2009. The company revised its full-year 2009 earnings outlook to a range of USD 2.00 to USD 2.50 per share. The previously provided full-year outlook was USD 2.25 to USD 2.75 per share.
Full year 2008 earnings were USD 2.20 per share versus USD 3.22 in 2007. Excluding significant items, 2008 earnings were USD 2.78 per share versus USD 3.28 in the prior year.
Global Consolidated Sales & Net Income
Consolidated net sales in the fourth quarter of USD 5.8 billion were 17 percent lower than prior year, reflecting 20 percent lower volume, 7 percent higher local prices, 3 percent negative impact from currency and a 1 percent net reduction from portfolio changes. Weaker demand across most markets led to significantly lower global sales volume. Local pricing gains in all regions and in all segments were more than offset by declines in volume and unfavorable currency. Sales were down in all regions, including a 16 percent decline in emerging markets.
Net loss for the fourth quarter 2008 was USD 629 million versus income of USD 545 million in the prior year. Excluding significant items, fourth quarter 2008 net loss was USD 249 million versus income of USD 522 million in the prior year.