DUPONT EARNINGS DOWN SLIGHTLY AFTER INVISTA, HERBICIDE CHARGES

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Graphic based on an image from DuPont illustrating the use of the company’s technologies in aircraft.

DuPont Co. posted slightly lower earnings in the second quarter, thanks to one-time costs, due to reimbursements from damage caused by a  herbicide product and a settlement with Invista.

Sales for the quarter rose to $11 billion, from $10.4 billion. Net income was $1.19 billion, compared to $1.22 billion during the same period a year earlier.

Second-quarter earnings, minus the charges,  were $1.48 a share versus $1.37 a share in the prior year.  DuPont is paying claims related to the use of Imprelis herbicide, which damaged trees. DuPont also settled long-running litigation related its former nylon business, which it sold to Invista, a part of Koch Industries.

The company continued to see strong agricultural and health and nutrition markets, partially offset by weaknesses in other areas. Overall, the company’s profit margins improved, thanks, in part,  to an ability to pass along price increases as well as growth in emerging markets.

DuPont expects 2012 earnings to be toward the lower end of its existing outlook range of $4.20 to $4.40 a share, excluding significant items, due to uncertainties associated with the economy and currency as well as a higher tax rate related to the company’s stronger earnings. Click on the link below to view the full earnings report.

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DuPont 2nd quarter earnings

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