DuPont's 2011 first-quarter net income grows 27% to $1.43bn

21 April 2011 11:34  [Source: ICIS news]

LONDON (ICIS)--DuPont's 2011 first-quarter net income grew by 27% from the same period last year to $1.43bn (€987m), reflecting higher sales volumes and selling prices, the company said on Thursday.

Net income was partly offset by a $171m decline in pharmaceuticals pre-tax income due to patent expirations, the US-based chemicals, agriculture and materials producer added.

Consolidated net sales for the first quarter 2011 grew 18% year on year to $10.0bn after volumes rose by 9% and local prices increased by 8%. There was also a 1% net increase from portfolio changes, DuPont said.

Sales in developing markets grew 30% compared with the same period in 2010, it added.

DuPont said that all its business segments recorded double-digit sales growth, driving a 31% increase in segment pre-tax operating income, excluding pharmaceuticals.  

Volumes were especially strong in safety and protection, agriculture and nutrition, and electronics and communications.

"Our science-powered innovation, keen focus on customers and disciplined execution contributed to delivering outstanding results, including double-digit sales increases in every segment and in every region," said CEO Ellen Kullman.  

DuPont increased its full-year 2011 earnings guidance to a range of $3.65 to $3.85 per share from the previous range of $3.45 to $3.75 per share.

"Our top-line growth and productivity results support our confidence in raising the full-year earnings outlook," Kullman added.

($1 = €0.69)

For more on DuPont visit ICIS company intelligence

By: Franco Capaldo
+44 (0)20 8652 3214

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