Agriculture markets boost DuPont revenue growth

24 Jan '08

3 min read

Broad Global Presence and Agriculture Markets Boost Revenue Growth
Highlights:
• Fourth quarter 2007 earnings were $.60 per share, compared to fourth quarter 2006 earnings of $.94 per share. Excluding significant items, earnings per share increased 27 percent to $.57 per share from $.45 per share in the prior-year quarter (see Schedule B for a listing of significant
items.)
• Sales increased 11 percent to $7.0 billion, reflecting 3 percent volume growth, 3 percent higher local selling prices, 4 percent currency benefit and a 1 percent net benefit related to portfolio and other changes.
• Sales in emerging markets grew 20 percent, led by Brazil, China and India. Sales in the United States grew 5 percent despite lower U.S. housing starts and auto builds.
• Local selling price gains more than offset higher ingredient costs.
• Fixed costs as a percentage of sales improved 210 basis points from the prior-year quarter.
• Fourth quarter 2007 segment pre-tax operating income (PTOI) increased 30 percent to $937 million, excluding significant items. Segment PTOI margin on the same basis improved
210 basis points.
• Full year 2007 earnings were $3.22 per share versus $3.38 in 2006. Excluding significant items, 2007 earnings increased 14 percent to $3.28 per share from $2.88 in the prior year.

“DuPont's strong earnings growth in the fourth quarter reflects our global presence and the breadth of our product offerings,” said Charles O. Holliday, Jr, DuPont chairman and chief executive officer.

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