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DuPont delivers strong earnings growth in third quarter 2007

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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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