Dupont company reports second-quarter earnings of $1.04 per share

Dupont says that its earnings per share for the second quarter are up 12 per cent from last year. The company reports second-quarter earnings of $1.04 per share, which it adjusts to $1.01 per share when “significant items” are taken into account. This compares with last year’s figure of $0.90.

The company is optimistic about its full year earnings outlook and expects its second half earnings of this year to exceed those of 2005. Dupont chairman and chief executive Charles O. Holliday Jr said, “Our results this quarter reflect progress in executing our growth strategies and performance improvement initiatives.”

“Our businesses delivered improved pricing, more new product innovations and again demonstrated excellent cost control,” he continued. Dupont also reports that consolidated net sales for the second quarter were $7.4 billion against last year’s $7.5 billion. The company said that, on a comparable business basis, its sales were up 2 per cent, and that total company volumes increased by one per cent for the quarter. For the second half of the year, Dupont expects to earn about $0.91 per share before significant items. This is nearly double the $0.46 earned in the second half of last year. The company says earnings were adversely affected by hurricanes in the US.