DuPont’s third quarter sales rose 17% to $7 billion. The increase was due to 14% higher volume, 5% higher local selling prices, a 1% reduction from currency exchange rates and a 1% reduction due to portfolio changes.
DuPont’s third quarter net income fell to $367 million compared to $409 million the prior year. Pharmaceuticals income was down substantially in the quarter related to patent expirations. Fourteen percent higher sales volume was partly offset by selected growth investments in agriculture & nutrition and safety & protection and higher pension expense.
In the safety & protection segment, sales increased 30% to $871 million, primarily on higher volume. Growth reflected increased demand for aramid and nonwoven products due to strengthening in industrial markets and strong demand across all regions.
In the performance coatings sector, sales totaled $937 million, an increase of 6%, on 5% higher volume, reflecting continued strengthening in North American and European heavy-duty truck markets and increased demand in global automotive markets, especially in North America.
Performance materials sales increased 21% to $1.6 billion, reflecting higher volumes and higher selling prices.v