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DuPont Posts 3Q Results

October 27, 2009

DuPont's third quarter sales drop.

DuPont’s third quarter net income reached $409 million compared to $367 million in the prior year. The prior year included a $146 million after-tax hurricane-related charge. Net income reflects the benefit of significantly lower costs, partly offset by lower sales volume. Third quarter 2009 consolidated net sales of $6.0 billion were 18% lower than the prior year, reflecting 12% lower volume, 2% lower local prices, a 3% negative impacted from currency exchange rates and a net 1% reduction due to portfolio changes.

Total company sales for the third quarter 2009 were $6.0 billion, with sales in emerging markets rebounding from significantly lower levels in the first and second quarters.

In the Coatings & Color Technologies sector, sales reached $1.5 billion, a decline of 16%, primarily reflecting continued weakness in motor vehicle markets. In the Safety & Protection segment sales totaled $1.0 billion, dropping 32%, reflecting a 22% volume decline primarily in industrial and construction markets. Pricing decreases reflected the pass-through of lower chemicals raw material costs.

In the Electronic & Communication Technologies arena sales tallied $919 million, a drop of 13%, reflecting 10% lower volume and 3% lower selling prices. Weak demand in consumer and general industrial markets offset increased demand in photovoltaics and packaging graphics.
Performance Materials logged sales of $2.3 million, a decrease of 9%, reflecting lower volumes and lower costs.

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