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America: DuPont Q2 Sales Rise 26% to $8.6bn

https://www.chemnet.com   Aug 02,2010
DuPont has reported second-quarter consolidated net sales of $8.6 billion, 26 per cent higher than the prior year.


The higher sales reflect 21 per cent higher volume, 5 per cent higher local selling prices, one per cent positive impact from currency exchange rates, and one per cent reduction from portfolio changes.


All segments had double-digit sales increases, with more than 25 per cent volume growth in the electronics & communications, performance materials, and safety & protection segments.


Emerging markets sales increased 32 per cent.


Net income attributable to DuPont for the second quarter 2010 was $1.2 billion versus $0.4 billion in 2009. Excluding significant items in both years, net income attributable to DuPont increased 92 per cent from the second quarter 2009.


'DuPont's global team worked closely with customers, applying the breadth and depth of our science capabilities to meet market needs. We grew sales across every segment. Several businesses, including electronics and titanium dioxide, delivered results that far exceeded pre-recession levels,' said DuPont chair and CEO Ellen Kullman.


The company increased its full-year earnings outlook to a range of $2.90 to $3.05 per share, excluding significant items, from its previous range of $2.50 to $2.70 per share. The outlook increase reflects strong second-quarter results and expected continuation of year-over-year gains from higher sales, further strengthening of mid-cycle businesses such as Safety & Protection, and ongoing productivity improvement.


The outlook also assumes Pharmaceuticals full-year pre-tax income will be in a range from $460 to $480 million. The company expects full-year free cash flow to be greater than $1.7 billion.
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