DuPont 3Q profit falls on charges, cuts 2008 view

[October 21, 2008]  DOVER, Del. (AP) -- Chemical manufacturer DuPont Co. says hefty hurricane-related charges helped drive third-quarter earnings down 30 percent, and has trimmed its 2008 forecast on weakening North American and Western European demand.

Wilmington-based DuPont Co. says net income slipped to $367 million, or 40 cents per share, from $526 million, or 56 cents per share, a year ago.

Excluding a $227 million hurricane-related charge, profit would have totaled $513 million, or 56 cents per share.

Higher selling prices and the positive effects of a weaker dollar drove sales up 9 percent to $7.3 billion.

The results beat analysts' average forecast for adjusted profit of 51 cents per share on revenue of $7.1 billion, according to a Thomson Reuters poll.

[Associated Press]

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.