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SMALL BUSINESS
DuPont finance chief reaffirms 2009 guidance
AP
NEW YORK -DuPont's finance chief on Tuesday reaffirmed the manufacturing conglomerate's outlook for 20 percent compound annual earnings growth for 2009 through 2012.
Speaking at a conference sponsored by Citi, CFO Nick Fanandakis repeated the guidance offered by the chemicals company a month ago.
He said Wilmington, Del.-based DuPont expects to generate $1 billion in productivity gains this year and another $1 billion over the next three years, including $400 million in 2010.
Fanandakis also reaffirmed the company's full-year 2009 earnings outlook of $1.95 to $2.05 per share, excluding one-time items.
Analysts polled by Thomson Reuters, on average, expect profit of $2.01 per share for the year.
In afternoon trading, DuPont shares rose 73 cents, or 2.1 percent, to $35.31.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-12-01 14:11:49
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