Wilmington, DE, April 24, 2007--DuPont Co. in the first quarter reported earnings that increased 16 percent, boosted by higher seed sales and improved pharmaceuticals income. The company reaffirmed its full-year guidance.
Net income grew to $945 million, or $1.01 per share, from $817 million, or 88 cents per share, a year ago. Excluding one-time items, earnings totaled $1.07 per share, versus 93 cents per share, a year earlier.
Revenue rose 6 percent to $8.16 billion from $7.67 billion last year. Sales from its agriculture and nutrition segment increased 13 percent, primarily due to strong seed sales, while revenue generated by its pharmaceuticals business surged 33 percent.
Analysts surveyed by Thomson Financial expected earnings of $1.03 per share on revenue of $7.77 billion.
DuPont also reaffirms its outlook for 2007 earnings of about $3.15 per share, excluding a 6 cent per share charge. Wall Street is looking for a profit of $3.18 per share.
"We're off to a solid start in 2007," said DuPont Chairman and Chief Executive Officer Charles O. Holliday Jr. "We continue to improve operating margin and return on capital as we deliver on our growth strategies and productivity initiatives."
