DuPont’s third quarter 2009 consolidated net sales were $6 billion, 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.
DuPont’s third quarter net income reached $409 million compared to $367 million the prior year, which included a $146 million after-tax hurricane-related charge. Net income reflects the benefit of significantly lower costs, partly offset by lower sales volume.
In the Safety & Protection segment, sales totaled $1 billion, dropping 32% and 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 Coatings & Color Technologies sector, sales reached $1.5 billion, a decline of 16%, primarily reflecting continued weakness in motor vehicle markets.
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.