Wilmington, 25 January 2011--- DuPont’s fourth quarter 2010 earnings per share were $0.40, compared to $0.48 in the prior year despite a $0.14 per share Pharmaceuticals decline, or $0.50 versus $0.44 in the prior year excluding significant items. Sales were $7.4 billion, up 15 percent versus prior year driven by 12 percent higher volume and 6 percent higher local prices, partly offset by 2 percent impact from currency and a 1 percent reduction from portfolio changes. Developing market sales increased 24 percent. Growth in sales was broad based across segments and regions, with particularly strong growth in Electronics & Communications and Performance Chemicals.

 

Full-Year 2010 earnings were $3.28 per share versus $1.92 in 2009.or $3.28 per share versus $2.03 in 2009, excluding significant items, up 62 percent. Sales increased 21 percent to $31.5 billion with sales volume approaching pre-recession levels driven by significant economic recovery in developed markets, share gains, and continued penetration of developing markets.Full-year free cash flow was $3.1 billion versus the company’s target of greater than $1.7 billion, primarily driven by higher earnings and working capital productivity.   DuPont exceeded its full-year productivity targets of $400 million each for fixed costs and working capital.

 

DuPont increased its full-year 2011 earnings guidance to a range of $3.45 to $3.75 per share. Previous guidance was $3.30 to $3.60 per share. Additionally, the impact of the planned Danisco acquisition could reduce 2011 earnings by $0.30-$0.45 per share on a reported basis.

 

 “The fourth quarter was a strong finish to an outstanding year. We laid the groundwork for recovery in 2009 and executed with precision and effectiveness in 2010, meeting and often exceeding our business goals and financial commitments, some a full year early,” said DuPont Chair and CEO Ellen Kullman. “We continue to differentiate DuPont through sustainable growth, disciplined execution and ongoing productivity coupled with science-powered innovation to address population megatrends around food, energy and protection.”

 

DuPont (www.dupont.com) is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 90 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.

 

Press Contact

Thaly Blanga

Thaly.Blanga@dupont.com