Create a free Manufacturing.net account to continue

DuPont Earnings Highlights, Global Consolidated Sales

Sales were $7.4 billion, up 15% versus prior year, driven by 12% higher volume and 6% higher local prices, partly offset by 2% impact from currency and a 1% reduction ...

DuPont Earnings Highlights, Global Consolidated Sales

 

4Q Highlights

  • Sales were $7.4 billion, up 15% versus prior year, driven by 12% higher volume and 6% higher local prices, partly offset by 2% impact from currency and a 1% reduction from portfolio changes.
  • Developing market sales increased 24%.
  • Growth in sales was broad based across segments and regions, with particularly strong growth in Electronics & Communications and Performance Chemicals.

The table below shows regional sales and variances versus the fourth quarter 2009. 

Three Months Ended
December 31, 2010
Percentage Change Due to:
(Dollars in billions) $ % Change Local Currency Price Currency Effect Volume Portfolio/
Other
U.S.  $         2.2              15                 6                  -              9                -
EMEA*             1.9                6                 6               (7)              8              (1)
Asia Pacific             2.0              26                 8                 2            17              (1)
Latin America             1.2              18                 6                 1            14              (3)
Canada              0.1                 -                 1                 1               -              (2)
Total Consolidated Sales  $         7.4              15                 6               (2)            12              (1)
* Europe, Middle East & Africa

Fourth quarter 2010 net income attributable to DuPont was $376 million versus $441 million in 2009.  Excluding significant items in both years, fourth quarter 2010 net income attributable to DuPont was $463 million versus $402 million in 2009.  Pharmaceuticals pre-tax income declined $160 million versus fourth quarter 2009 due to patent expirations.

Fixed costs were 47% of sales, improving from 50% in fourth quarter 2009. 

Full-Year Highlights

  • Sales increased 21% to $31.5 billion with sales volume approaching pre-recession levels, driven by significant economic recovery in developed markets, share gains and continued penetration of developing markets.
  • Full-year free cash flow was $3.1 billion versus the company’s target of greater than $1.7 billion, primarily driven by higher earnings and working capital productivity.  
  • DuPont exceeded its full-year productivity targets of $400 million each for fixed costs and working capital.

SOURCE

More in Operations