Wilmington, Delaware
October 24, 2006
- The company reported third
quarter 2006 earnings of $.52 per share versus a prior-year
loss of $.09 per share.
- Excluding significant
items, earnings per share were $.49, up 48 percent from the
$.33 per share earned in the prior year.
- Revenues grew 7 percent
reflecting 3 percent higher local prices, 3 percent higher
volume, and a 1 percent currency effect. Asia Pacific volume
grew 11 percent.
- Raw material costs were
$180 million higher than third quarter last year despite
lower market prices for U.S. natural gas, but were fully
offset by selling price increases.
- Fixed costs were lower
than last year and continued the company’s trend of
decreasing fixed costs as a percentage of sales.
- Segment pretax operating
margin, excluding significant items, increased 1.6
percentage points versus last year, principally reflecting
the benefits of higher average prices and lower fixed costs.
“We delivered strong results by
executing our growth strategies and productivity initiatives,”
said Charles O. Holliday, Jr., DuPont chairman and chief
executive officer. “Continued pricing momentum, customer driven
product innovations, and cost control generated revenue gains,
profit growth and margin expansion. We are on track for a strong
second half.”
Full report in PDF format:
http://www2.dupont.com/Media_Center/en_US/assets/downloads/pdf/earnings3Q06.pdf
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