DuPont reports third quarter earnings
Dupont’s third quarter earnings, excluding one-time items, were 12 cents per share, consistent with expectations but below third quarter 2000 earnings of 51 cents per share.
One-time items in the third quarter totaled a net benefit of 1 cent per share, bringing reported earnings per share to 13 cents. Segment sales in third quarter 2001 of $6.4 billion decreased 14% versus the third quarter of 2000, principally reflecting lower volumes and prices.
Worldwide local currency selling prices were down 2%. Globally for the quarter, consolidated sales totaled $5.6 billion compared to $6.4 billion in 2000. Segment sales, including transfers and a pro rata share of sales by equity affiliates, were $6.4 billion, down from $7.4 billion in 2000.
In specialty fibers, sales and ATOI were 13% and 64% lower, respectively. Earnings were flat in Advanced Fiber Systems and were down substantially in Non-wovens and Apparel and Textile Sciences (A&TS).
Nylon sales decreased 16% with ATOI down 57%.