DuPont Reaffirms Full-Year 2007 Earnings Per Share Outlook
In a meeting today with securities analysts and investors, DuPont reaffirmed its outlook for full-year 2007 earnings per share in the range of $3.06 to $3.11 per share in accordance with generally accepted accounting principles. Full-year 2007 earnings per share on an adjusted basis are expected to be in the range of $3.15 to $3.20, excluding the $0.09 per share charge for significant items in year-to-date results as disclosed in the company’s third quarter 2007 10Q.
For the fourth quarter 2007, the company expects strong sales growth outside the United States will continue to exceed the effect of lower demand from U.S. housing and auto markets. The company anticipates pretax operating income to grow substantially from last year’s fourth quarter, reflecting continued execution of its growth strategies and productivity initiatives partially offset by higher ingredient costs. Net income growth is expected to be tempered by a much higher base tax rate in the fourth quarter 2007 versus the prior year.
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