Business News

DuPont Earnings Highlights, Global Consolidated Sales & Net Income

Monday 31. January 2011 - 4Q Highlights

Sales were $7.4 billion, up 15% versus prior year, driven by 12% higher volume and 6% higher local prices, partly offset by 2% impact from currency and a 1% reduction from portfolio changes.
Developing market sales increased 24%.
Growth in sales was broad based across segments and regions, with particularly strong growth in Electronics & Communications and Performance Chemicals.
The table below shows regional sales and variances versus the fourth quarter 2009.
Three Months Ended
December 31, 2010 Percentage Change Due to:
(Dollars in billions) $ % Change Local Currency Price Currency Effect Volume Portfolio/
Other
U.S. $ 2.2 15 6 – 9 –
EMEA* 1.9 6 6 (7) 8 (1)
Asia Pacific 2.0 26 8 2 17 (1)
Latin America 1.2 18 6 1 14 (3)
Canada 0.1 – 1 1 – (2)
Total Consolidated Sales $ 7.4 15 6 (2) 12 (1)
* Europe, Middle East & Africa
Fourth quarter 2010 net income attributable to DuPont was $376 million versus $441 million in 2009. Excluding significant items in both years, fourth quarter 2010 net income attributable to DuPont was $463 million versus $402 million in 2009. Pharmaceuticals pre-tax income declined $160 million versus fourth quarter 2009 due to patent expirations.
Fixed costs were 47% of sales, improving from 50% in fourth quarter 2009.
Full-Year Highlights
Sales increased 21% to $31.5 billion with sales volume approaching pre-recession levels, driven by significant economic recovery in developed markets, share gains and continued penetration of developing markets.
Full-year free cash flow was $3.1 billion versus the company’s target of greater than $1.7 billion, primarily driven by higher earnings and working capital productivity.
DuPont exceeded its full-year productivity targets of $400 million each for fixed costs and working capital.