22 January 2013 13:00 [Source: ICIS news]
LONDON (ICIS)--DuPont posted a net income of $111m (€83m) in the fourth quarter of 2012, a 70% decline on the $373m net income generated during the same quarter the year before, following a weak performance from its Performance Chemicals business, the US chemical major said on Tuesday.
Although the figure represents a fall year on year, the figure represents an elevenfold increase on the $10m net income posted for the third quarter of 2012.
Total net income for 2012 was $2.8bn, down from $3.5bn in 2011, the company added.
Fourth-quarter net sales were stable year on year at $7.3bn, while full-year net sales were $34.8bn, up from $33.7bn in 2011.
The company achieved above-expectation efficiency savings during 2012, with productivity benefits estimated at $400m compared with its target of $300m.
DuPont's Performance Chemicals earnings were sharply down year on year, with the division generating pre-tax operating income of $200m during the quarter compared with $433m during the same period in 2011. The Performance Materials unit's pre-tax operating income for the period was $254m, compared with $151m in the final three months of 2011.
($1 = €0.75)
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