DuPont reported Fourth Quarter and full year 2005 earnings and also set earning expectation for the year 2006.
Highlights of results
• The company reported fourth quarter earnings of $.16 per share, compared to fourth quarter 2004 earnings of $.28 per share. • Fourth quarter earnings before significant items were $.13 per share compared to $.37 per share in the fourth quarter 2004.
The reduction in earnings is largely attributable to disruptions from hurricanes and other plant outages, higher energy and ingredient costs and lower crop protection product sales.
• Fourth quarter raw material costs increased $350 million versus last year.
Local price increases of 5 percent offset about 75 percent of this cost increase.
• Total worldwide volumes declined 4 percent.
Excluding the estimated impact of business interruptions from Gulf Coast hurricanes, volumes would have been essentially flat.
• During the fourth quarter the company completed a $3 billion share buyback, reducing shares outstanding by 8 percent.
• Full-year 2005 earnings were $2.07 per share versus $1.77 in 2004.
Before significant items, earnings per share in 2005 totaled $2.34 compared to $2.38 in 2004.
• The company expects 2006 earnings per share of about $2.60, an increase of 11 percent, compared to 2005 earnings per share before significant items.
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 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and protective apparel.
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