DuPont reports lower earnings

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duppiewebDuPont reported lower earnings for 4th quarter and the year.

Fourth quarter 2012 earnings per share from continuing operations, excluding significant items, was $.11 versus prior year earnings of $.26. Reported fourth quarter 2012 earnings per share from continuing operations was $.02 versus $.31 in the prior year.

Full year 2012 earnings per share from continuing operations, excluding significant items, was $3.33 versus $3.55 in 2011. Reported earnings per share from continuing operations was $2.61 versus $3.30 in 2011.

DuPont stands stronger today than it did a year ago. Our segments delivered innovation, productivity and integration cost synergies. This, coupled with a record year in new product introductions, has strengthened our market position,” said CEO Ellen Kullman. “However, weakness in markets served by Performance Chemicals and Electronics & Communications provided significant challenges in 2012. We’ve adjusted our plans to meet the changing market environment and grow our businesses in a slow-growth world economy.”

Fourth quarter 2012 sales were $7.3 billion, virtually unchanged from the prior year. Currency impact and portfolio changes offset 3 percent volume growth. Volume was driven by agriculture, with robust sales in Latin America and a strong start to the North American selling season, and increases in Asia Pacific for Performance Materials, Electronics & Communications and Performance Chemicals.

Full-year 2012 sales were $34.8 billion, up 3 percent versus 2011.

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