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DU PONT REPORTS EARNINGS

 DU PONT REPORTS EARNINGS
 WILMINGTON, Del., Oct. 28 /PRNewswire/ -- Du Pont (NYSE: DD) today


reported third quarter net income of $475 million, or 70 cents a share, compared with $504 million, or 75 cents a share, in the third quarter of 1991.
 Last year's third quarter net income included a net benefit of $103 million, or 15 cents a share, from nonrecurring items. Excluding this prior-year benefit, net income in this year's third quarter rose 18 percent.
 Sales for the quarter were $9.7 billion, an increase of 9 percent after adjustment to reflect the new coal joint venture accounted for under the equity method.
 Combined sales for chemicals, fibers, polymers and diversified businesses were 6 percent higher than last year, due to 3 percent higher volume and a 3 percent increase in selling prices. The selling price increase reflects a 7 percent increase in international selling prices due to the exchange impact of the weaker dollar. Sales volume in the United States increased 3 percent as prices remained flat.
 "Notwithstanding generally weak economic conditions in our major markets, our chemicals and polymers businesses have shown significant sales volume increases over the levels of a year ago," said Du Pont Chairman Edgar S. Woolard Jr. "We are pleased that our emphasis on reducing costs and improving productivity, while focusing on specific business opportunities, is improving underlying earnings, even though worldwide economic growth has not yet materialized."
 The following compares segment results for the third quarter 1992 with the same period last year, excluding the impact of nonrecurring items described in the accompanying segment footnotes.
 Chemicals earnings were up 25 percent, principally due to higher sales and lower costs. Sales were up 13 percent due to higher sales volume, reflected in most businesses, and slightly higher selling prices, aided by the weaker dollar.
 Earnings for Fibers were 11 percent higher than last year, as sales increased 1 percent. Selling prices were 5 percent higher, reflecting the favorable exchange impact. Sales volume decreased 4 percent. While the apparel fibers businesses have shown strength, fibers products for U.S. residential and commercial construction, defense and industrial markets have been adversely impacted, as demand remains at or below year-ago levels.
 Polymers earnings were 81 percent above last year, reflecting a 10 percent sales increase, while costs remained flat. Sales volume was up 7 percent responding to improved demand for automotive finishes, elastomers and engineering polymers. Selling prices increased 3 percent, principally due to currency exchange benefits.
 Earnings for diversified businesses were $3 million, significantly below prior year, principally due to a lower contribution from the coal business reflecting the company's reduced equity position, and to lower results for agricultural products and imaging systems. Partly offsetting, earnings were improved for medical products and sporting goods. Total segment sales increased 4 percent over prior year, reflecting volume increases.
 Earnings for Petroleum were about the same as last year, as improvements in upstream earnings were offset by lower downstream earnings. The latter is due to lower worldwide refined product margins, reflecting sluggish demand from slow economic growth. Upstream results benefited from lower exploration expense and significantly improved U.S. natural gas prices, partly offset by charges associated with U.S. property dispositions.
 Net income for the first nine months of 1992 was $1,397 million, or $2.06 per share, compared to $1,643 million, or $2.44 per share, in the same period last year. Excluding nonrecurring items, net income was 2 percent higher than prior year. Year-to-date sales totaled $28.7 billion, an increase of 4 percent after adjustment to reflect the coal joint venture accounted for under the equity method.
 E.I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
 CONSOLIDATED INCOME STATEMENT
 (Dollars in millions, except per share)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 SALES $ 9,748 $ 9,426(A) $28,707 $28,930(A)
 Other Income 149 171 435 545
 Total 9,897 9,597 29,142 29,475
 Cost of Goods Sold and
 Other Expenses 7,321 6,909 21,382(B) 20,794(B)
 Selling, General and
 Administrative
 Expenses 937 862 2,735 2,713
 Depreciation, Depletion
 and Amortization 676 620 1,888 1,897
 Exploration Expenses,
 Including Dry Hole
 Costs and Impairment
 of Unproved Properties 76 124 296 377
 Interest and Debt
 Expense 156 190 472 569
 Total 9,166 8,705 26,773 26,350
 EARNINGS BEFORE
 INCOME TAXES 731 892 2,369 3,125
 Provision for
 Income Taxes 256(C) 388 972 1,482
 NET INCOME $ 475 $ 504 $ 1,397 $ 1,643
 EARNINGS PER SHARE
 OF COMMON STOCK(D) $ .70 $ .75 $ 2.06 $ 2.44
 DIVIDENDS PER SHARE
 OF COMMON STOCK $ .44 $ .42 $ 1.30 $ 1.26
 (A) Includes sales of $482 for quarter and $1,294 for nine months associated with the coal business now part of a joint venture accounted for under the equity method.
 (B) Includes charges of $212 and $65 for nine months 1992 and 1991, respectively, associated with "Benlate" DF fungicide recall.
 (C) Lower 1992 effective tax rate reflects change in expected annual rate for operations other than petroleum and a more favorable tax position for non-U.S. petroleum exploration expenses.
 (D) Earnings per share are calculated on the basis of the following average number of common shares outstanding.
 Nine months ended Sept. 30:
 1992 - 673,078,991
 1991 - 670,593,827
 E.I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES
 CONSOLIDATED INDUSTRY SEGMENT INFORMATION
 (Dollars in millions)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 SALES:
 Chemicals $ 951 $ 843 $ 2,807 $ 2,608
 Fibers 1,524 1,506 4,588 4,548
 Polymers 1,475 1,342 4,412 4,163
 Petroleum 4,384 3,895 12,099 11,672
 Diversified
 Businesses 1,414 1,840(A) 4,801 5,939(A)
 Total $ 9,748 $ 9,426 $28,707 $28,930
 AFTER-TAX OPERATING
 INCOME:
 Chemicals $ 86 $ 69 $ 267 $ 224(B)
 Fibers 166 150 508 380(C)
 Polymers 121 67 371 228(D)
 Petroleum 171 209(E) 369 760(E)
 Diversified
 Businesses 3 43(A)(F) 154(G) 341(A)(F)(G)
 Total 547 538 1,669 1,933
 Interest and
 Other Corporate
 Expenses Net of
 Tax (72) (34)(A)(E) (272) (290)(A)(E)
 NET INCOME $ 475 $ 504 $ 1,397 $ 1,643
 (A) Diversified Businesses includes amounts associated with the coal business, previously a separate segment. On Dec. 31, 1991, the coal business was restructured and became a part of a corporate joint venture accounted for under the equity method. Interest and Other Corporate Expenses Net of Tax related to the coal business for 1991 have been reclassified to the Diversified Businesses segment to conform to 1992 classifications. Sales for 1991 include $482 for quarter and $1,294 for nine months associated with the coal business.
 (B) Includes charge of $18 associated with a partial withdrawal from the "Freon" chlorofluorocarbon manufacturing business.
 (C) Includes $29 charge for facility shutdowns.
 (D) Includes $11 gain from sale of a business.
 (E) Petroleum includes $54 benefit from refunds of taxes paid in prior years, partly offset by $20 charge for withdrawal from operations in Ecuador. Interest and Other Corporate Expenses Net of Tax includes interest benefit of $60 associated with these refunds.
 (F) Includes $25 gain from sales of assets partly offset by $16 charge associated with restructuring activities. Nine months also includes $117 gain from sales of interests in businesses. (G) Includes charges of $134 and $41 for nine months 1992 and 1991, respectively, associated with "Benlate" DF fungicide recall.
 -0- 10/28/92 R
 /CONTACT: Mike Ricciuto of Du Pont, 302-774-2883/
 (DD) CO: Du Pont ST: Delaware IN: CHM SU: ERN


MP -- PH003 -- 6216 10/28/92 16:29 EST
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