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Agriculture markets boost DuPont revenue growth
24 Jan '08
3 min read
“We delivered 14 percent earnings per share growth for the year despite weakness in certain U.S. markets and higher ingredient costs.”
Global Consolidated Sales:
Consolidated net sales increased 11 percent to $7.0 billion in the fourth quarter. Outside the United States, sales increased 14 percent, boosted by 20 percent growth in emerging markets, particularly Brazil, China and India. A summary of fourth quarter 2007 worldwide and regional sales performance is shown below.
Net Income and Earnings Per Share:
Net income for the fourth quarter 2007 was $545 million, or $.60 per share, including a net benefit of $23 million, or $.03 per share, for significant items.
Fourth quarter 2006 net income was $871 million, or $.94 per share, including a net benefit of $449 million, or $.49 per share, for significant items. See attached Schedule B for a listing of significant items in both periods.
Segment sales include transfers:
Segment PTOI for the fourth quarter 2007 was $804 million versus $576 million in the fourth quarter 2006. Excluding significant items, segment PTOI increased 30 percent from $721 million to $937 million.
Performance Materials:
• Sales grew to $1.7 billion primarily due to higher USD selling prices. Volume growth in Latin America, Asia and Europe was more than offset by lower demand in North America.
• PTOI grew to $186 million, reflecting strong sales across all product lines, currency benefits and fixed cost productivity. 2007 PTOI includes a $16 million charge for a manufacturing asset writedown.
Outlook:
The company reaffirmed its 2008 full-year earnings outlook of $3.35 to $3.55 per share announced on January 9. For the first quarter 2008, the company expects to earn $1.12 to $1.17 per share.
In the first quarter 2007, the company earned $1.07 per share, excluding a $.06 significant item charge. In a letter to shareholders posted, Holliday highlighted the company's recent improvements in profitability, return on capital and productivity.
Holliday also outlined how the company plans to achieve higher profitability in 2008 and beyond by making advances in agriculture, safety and protection, emerging markets and cost productivity.
Global Consolidated Sales:
Consolidated net sales increased 11 percent to $7.0 billion in the fourth quarter. Outside the United States, sales increased 14 percent, boosted by 20 percent growth in emerging markets, particularly Brazil, China and India. A summary of fourth quarter 2007 worldwide and regional sales performance is shown below.
Net Income and Earnings Per Share:
Net income for the fourth quarter 2007 was $545 million, or $.60 per share, including a net benefit of $23 million, or $.03 per share, for significant items.
Fourth quarter 2006 net income was $871 million, or $.94 per share, including a net benefit of $449 million, or $.49 per share, for significant items. See attached Schedule B for a listing of significant items in both periods.
Segment sales include transfers:
Segment PTOI for the fourth quarter 2007 was $804 million versus $576 million in the fourth quarter 2006. Excluding significant items, segment PTOI increased 30 percent from $721 million to $937 million.
Performance Materials:
• Sales grew to $1.7 billion primarily due to higher USD selling prices. Volume growth in Latin America, Asia and Europe was more than offset by lower demand in North America.
• PTOI grew to $186 million, reflecting strong sales across all product lines, currency benefits and fixed cost productivity. 2007 PTOI includes a $16 million charge for a manufacturing asset writedown.
Outlook:
The company reaffirmed its 2008 full-year earnings outlook of $3.35 to $3.55 per share announced on January 9. For the first quarter 2008, the company expects to earn $1.12 to $1.17 per share.
In the first quarter 2007, the company earned $1.07 per share, excluding a $.06 significant item charge. In a letter to shareholders posted, Holliday highlighted the company's recent improvements in profitability, return on capital and productivity.
Holliday also outlined how the company plans to achieve higher profitability in 2008 and beyond by making advances in agriculture, safety and protection, emerging markets and cost productivity.
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