DuPont Raises First Quarter and Full Year 2006 Earnings Guidance
WILMINGTON, Del., March 15, 2006, DuPont today said that it now expects earnings for the first quarter of 2006 to be about $.80 per share, before significant items, up from the $.70 estimated by the company on January 24. The company also increased its guidance for full year earnings from $2.60 to $2.70 per share, before significant items.
The increased outlook for earnings in the first quarter reflects improved operating performance by many DuPont businesses, partly offset by weaker market conditions in Europe and unfavorable currency trends.
Reported earnings for the first quarter and full year 2006 will be reduced by a significant item charge of up to $165 million, pre-tax, related to the Performance Coatings restructuring plan announced today. The company will provide the amount of the related restructuring charge and additional guidance on its outlook for the remainder of the year in its April 25, 2006, first quarter earnings news release and conference call.
The company has scheduled an Investor Conference Call at 9:00 a.m. (EST) today to address these announcements. The call will be webcast live at www.dupont.com or can be accessed by calling 973-633-1010 at least 15 minutes prior to the call and ask for reservation #12439.
DuPont is a science company. 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 apparel.
Forward-Looking Statements: This news release contains forward-looking statements based on management’s current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company’s strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like “expects,” “anticipates,” “plans,” “intends,” “projects,” “indicates,” and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in DuPont’s filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions of countries in which the company does business; competitive pressures; successful integration of structural changes, including acquisitions, divestitures and alliances; research and development of new products, including regulatory approval and market acceptance, and seasonality of sales of agricultural products.
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