DuPont 2Q profit plunges on sales drop, charges

[July 21, 2009]  DOVER, Del. (AP) -- The chemical maker DuPont Co. says its earnings dropped 61 percent in the second quarter on lower sales volumes and restructuring charges.

The Wilmington-based chemical maker on Tuesday reported net income of $417 million, or 46 cents per share, for the three months ended June 30. That is down from $1.08 billion, or $1.18 per share, a year earlier.

Excluding one-time items, DuPont says its earnings were 61 cents per share -- beating Wall Street's estimate of 53 cents a share.

It says overall revenue fell to $7.0 billion, down 24 percent and just below analysts' forecast of $7.1 billion.

The company reaffirmed its 2009 earnings outlook range of $1.70 to $2.10 per share, excluding significant items.

[Associated Press; By RANDALL CHASE]

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