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DuPont Records Strong Earnings Growth in 4Q and Full Year 2006

Published on 2007-01-24. Author : SpecialChem

Business Segment Performance

Segment pre-tax operating income (PTOI) for fourth quarter 2006 was USD 576 million, up 45 percent compared to USD 396 million in the fourth quarter 2005.

Agriculture & Nutrition

  • PTOI loss of USD 350 million reflects normal seasonality and significant items, principally a USD 194 million restructuring charge. Excluding the significant items, PTOI increased USD 114 million, largely due to higher sales in both seeds and crop protection chemicals.
  • Fourth quarter sales increased 17 percent to USD 1.1 billion. In seed products, increased sales reflect higher prices, share gains in the Southern Hemisphere and an earlier start to the 2007 corn marketing season in Western Europe. For crop protection chemicals, higher sales largely reflect gains in the Southern Hemisphere, including new products, and strong U.S. and European cereal herbicide sales, net of lower U.S. corn herbicide sales.

Coatings & Color Technologies

  • PTOI was USD 282 million versus USD 153 million earned in the hurricane-impacted fourth quarter 2005. Excluding significant items, PTOI increased 31 percent due to higher titanium dioxide sales and a gain on the sale of assets, which together more than offset the impact of lower automotive OEM coatings volumes.
  • Fourth quarter sales of USD 1.6 billion were up 7 percent. Higher volumes in the titanium dioxide business and higher prices in the coatings businesses more than offset lower volume in automotive OEM coatings.

Electronic & Communication Technologies

  • PTOI grew to USD 118 million due to gains in fluoroproducts, electronic materials and display technologies, partially offset by lower imaging technologies results.
  • Sales grew 3 percent to USD 911 million due to favorable currency and higher local prices. Sales growth was particularly strong in Europe for electronic materials.

Performance Materials

  • PTOI grew to USD 126 million from the USD 55 million earned in the hurricane-impacted fourth quarter 2005, primarily due to gains in performance elastomers and packaging and industrial polymers.
  • Sales rose 7 percent to USD 1.7 billion, reflecting volume, price and currency gains. Sales growth was particularly strong in Asia Pacific and Europe.

Safety & Protection

  • PTOI was USD 211 million versus USD 212 million earned in the prior year. Excluding significant items, PTOI was USD 245 million, up 16 percent reflecting strong sales and fixed cost productivity.
  • Fourth quarter sales were up 5 percent to USD 1.4 billion reflecting 2 percent higher volume and 3 percent higher USD prices. All regions outside the United States grew at modest rates, offsetting a slight decline in the United States.

Source: DuPont


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