DuPont Reports Fourth Quarter Loss on Weak Demand

Wilmington, DE, Jan. 27, 2009--DuPont Co. reported a $629 million loss for the fourth-quarter, reflecting a hefty restructuring charge, and lowered its earnings forecast for the full year due to weak industrial demand for its chemicals.

Dupont said Tuesday its loss amounted to $0.70 per share, compared with a profit of $545 million, or $0.60 per share, a year ago.

Excluding a charge of $380 million the fourth quarter loss was $249 million, or $0.28 per share. That was a larger than analysts expected.

Net sales in the quarter dropped 17 percent to $5.8 billion from $6.98 billion, as the company reported double-digit volume decreases in all regions.

It said declines in consumer spending, construction and motor vehicle sales led to sharp drop in demand and a steep decline in global industrial production.

Full year 2008 earnings were $2 billion, or $2.20 per share, down from $2.9 billion, or $3.22 per share, in 2007.

Citing weak industrial economic conditions, the company revised its full-year earnings estimate for 2009 to a range of $2 to $2.50 per share, down from its previous guidance of $2.25 to $2.75 per share.