Wilmington, Delawaqre
April 24, 2007
Highlights
- First quarter 2007
earnings per share grew 15 percent to $1.01 from $0.88 in
the first quarter of 2006.
- Excluding significant
items, earnings per share increased 15 percent to $1.07 from
$0.93.
- Sales grew 6 percent
reflecting 2 percent volume growth, 2 percent higher local
currency selling prices and a 2 percent currency benefit.
- Strong seed sales and
growth outside the United States more than offset lower
volumes in the U.S. housing and automotive markets.
- Fixed costs as a
percentage of sales improved 190 basis points from the
prior-year quarter.
- Segment pre-tax operating
margin, excluding significant items, improved 120 basis
points versus first quarter 2006.
- DuPont reaffirmed its full
year 2007 earnings outlook of about $3.15 per share,
excluding significant items.
“We’re off to a solid start in
2007,” said DuPont Chairman
and Chief Executive Officer Charles O. Holliday, Jr. “We
continue to improve operating margin and return on capital as we
deliver on our growth strategies and productivity initiatives.
Our results highlight the benefits of our global presence and
diversified businesses.”
Click
HERE for full report. |
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Agriculture & Nutrition |
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PTOI increased 9 percent to $651
million from $597 million due to
strong seed sales partially
offset by higher production
costs. The first quarter of 2006
included a $28 million gain on
the sale
of a technology license.
Excluding this gain, PTOI grew
14 percent.
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Sales grew 13 percent to $2.5
billion primarily due to a
strong Pioneer seed business.
Volumes
grew 5 percent and USD selling
prices increased 8 percent.
Significant global gains in seed
corn and cereals herbicides more
than offset the impact of lower
demand for cotton and soybean
products in North America. |
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