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SMALL BUSINESS
DuPont reports rise in 3Q profit
By RANDALL CHASE
, AP
DOVER, Del. -DuPont says cost-cutting helped offset lower volumes and contributed to a surprisingly strong increase in third-quarter earnings.
The Wilmington-based chemical maker on Tuesday reported net income of $409 million, or 45 cents per share, up from $367 million, or 40 cents per share, in the year-ago quarter, which included a hurricane-related charge of 16 cents per share.
Analysts had expected earnings of 33 cents a share.
Total sales dropped 20 percent to $6.16 billion, reflecting 12 percent lower volume.
DuPont Co. says it expects improving demand in key markets, as well as lower raw material costs. It narrowed its full-year earnings outlook to a range of $1.95 to $2.05 per share, excluding items, from $1.70 to $2.10.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-20 06:50:35
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