Wilmington, Delaware
July 26, 2007
Highlights
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Second quarter 2007 earnings per share were
$1.04, compared with $1.04 in the second quarter of 2006.
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Earnings per share grew 3 percent to $1.04
from $1.01, excluding a $0.03 per share significant item in
the prior-year quarter.
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Sales grew 6 percent to $7.9 billion,
reflecting 1 percent volume growth, 2 percent higher local
selling prices and a 3 percent currency benefit.
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Sales growth in all regions outside the
United States more than offset lower U.S. volumes resulting
from continuing weakness in housing and automotive markets.
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The benefit of higher local selling prices
was offset by a rise in energy and ingredient costs.
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Fixed costs as a percentage of sales
decreased 120 basis points from the prior-year quarter.
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DuPont reaffirmed its full year 2007
earnings outlook of about $3.15 per share excluding
significant items.
“We are seeing the benefit of our global
presence – capitalizing on strong routes to market in developing
countries and building on our market-leading positions for
businesses that serve multiple industries,” said Charles O.
Holliday, Jr., DuPont
chairman and chief executive officer. “We generated solid volume
growth in all regions outside the United States and increased
local selling prices for the 14th consecutive quarter while
reducing fixed costs as a percentage of sales. We are executing
our growth strategies and continuing to increase return on
invested capital.”
Full report (PDF) |
Agriculture & Nutrition |
Sales of $2.1 billion grew 7
percent driven by strong U.S.
seed corn and cereal herbicides
sales. These gains were
partially offset by lower sales
of soybeans and cotton
herbicides due to reduced acres
in North America. |
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