Wilmington, Delaware
October 23, 2007
Highlights
- Third quarter 2007
earnings per share were $0.56 versus $0.52 in the third
quarter 2006. Excluding significant items, earnings per
share increased 20 percent to $0.59 in the current quarter
from $0.49 in the third quarter 2006.
- Sales rose 6 percent to
$6.7 billion. Excluding portfolio changes, sales grew 7
percent, reflecting 3 percent volume growth, 2 percent
higher local selling prices and 2 percent currency benefit.
- Strong revenue growth in
all segments outside the United States more than offset
lower U.S. demand.
- Fixed costs as a
percentage of sales improved 90 basis points from the
prior-year quarter.
- Segment pre-tax operating
income margin increased to 14.2 percent from 13.3 percent in
the prior-year quarter, excluding significant items.
- DuPont now expects full
year 2007 earnings to be $3.15 to $3.20 per share versus its
previous outlook of about $3.15 per share, excluding
significant items.
“DuPont
generated solid operating leverage and 20 percent earnings per
share growth in the third quarter,” said Charles O. Holliday,
Jr., DuPont chairman and chief executive officer. “We increased
sales outside the United States 11 percent and grew worldwide
Agriculture & Nutrition segment sales 21 percent. Our
performance reflects the concentrated actions of our employees
to execute our growth strategies and productivity initiatives,
which overcame the challenges of higher cost ingredients and
lower U.S. demand.”
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