"DuPont generated solid operating leverage and 20 percent earnings per share growth in the third quarter," said Charles O Holliday, Jr., DuPont chairman and chief executive officer. "We increased sales outside the United States 11 percent and grew world-wide Agriculture and Nutrition segment sales 21 percent.
Our performance reflects the concentrated actions of our employees to execute our growth strategies and productivity initiatives, which overcame the challenges of higher cost ingredients and lower US demand."
Consolidated net sales increased 6 percent to $6.7 billion in the quarter. Excluding portfolio changes, sales grew 7 percent and sales generated outside the United States were 64 percent of total consolidated net sales. Volume rose 6 percent outside the United States, with significant growth in Latin America, led by the Agriculture and Nutrition segment.
Net income for the third quarter 2007 was $526 million, or $0.56 per share, including a $0.03 per share litigation charge. Third quarter 2006 net income was $485 million, or $0.52 per share, including a $0.03 per share benefit for insurance recoveries.-PR