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DuPont’s Profits Fall, but Beat Estimates
9:26 AM MDT | July 21, 2009 | Deepti Ramesh
DuPont reported second-quarter net income of $417 million (46 cts/share), down 61% compared with the year-ago period due to significantly lower sales volume, restructuring charges, and unfavorable currency exchange rates. Excluding restructuring charges, earnings were 61 cts/share, beating analysts’ estimates of 53 cts/share, as reported by Thomson Reuters (New York). Sales fell 22%, to $6.9 billion, reflecting 19% lower sales volume and a net 1% reduction due to portfolio changes, the company says. "Our aggressive actions to improve productivity and...
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