UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) April 10, 2008
E. I. du Pont de Nemours and Company
(Exact Name of Registrant as Specified in Its Charter)
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Delaware
(State or Other Jurisdiction
Of Incorporation)
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1-815
(Commission
File Number)
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51-0014090
(I.R.S. Employer
Identification No.) |
1007 Market Street
Wilmington, Delaware 19898
(Address of principal executive offices)
Registrants telephone number, including area code: (302) 774-1000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
Section 2 Financial Information
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Item 2.02 |
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Results of Operations and Financial Condition |
On April 10, 2008, the Registrant raised its first quarter 2008 earnings estimate to about
$1.29 per share, compared to its previous outlook of $1.14 to $1.19 per share which was provided
March 14, and provided an outlook for the second quarter 2008 of about $1.05 per share. The
Registrant also raised the lower end of its full-year 2008 earnings outlook by five cents to a
range of $3.40 to $3.55 per share. A copy of the Registrants news release is furnished on Form
8-K. The information contained in Item 2.02 of this report on Form 8-K shall not be deemed filed
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act),
or otherwise subject to the liability of that section, and shall not be incorporated by reference
into any registration statement or other document filed by the Registrant under the Securities Act
of 1933, as amended, or the Exchange Act.
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Contact:
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Anthony Farina |
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302-774-4005 |
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anthony.r.farina@usa.dupont.com |
DuPont Expects Higher 1Q Earnings
WILMINGTON, Del., April 10, 2008 DuPont today raised its first quarter 2008 earnings
estimate to about $1.29 per share, compared to its previous outlook of $1.14 to $1.19 per share
which was provided March 14. This represents more than 20 percent growth in earnings in the
first quarter. Last year, the company reported first quarter earnings of $1.01 per share,
including a $.06 special item charge.
Higher first quarter 2008 earnings compared to last year reflect strong growth in DuPonts
agriculture businesses combined with rapid growth in emerging markets. The strength in the first
quarter is expected to more than offset continued weakness in U.S. construction and automotive
markets. In addition, price and productivity gains, along with favorable currency effects, are
expected to overcome the impact of significantly higher raw material costs.
For the first half of 2008, DuPont expects earnings growth of about 10 percent, with second
quarter earnings about equal to 2007 at $1.05 per share. DuPont also raised the lower end of its
full-year 2008 earnings outlook by five cents to a range of $3.40 to $3.55 per share. The company
expects that slowing in U.S. markets, including housing and automotive, will offset growth in
agriculture and other markets outside the United States.
Growth in agriculture and emerging markets, along with continued cost productivity gains, are
enabling us to overcome challenges in certain U.S. markets and higher cost ingredients, said
Charles O. Holliday, Jr., DuPont chairman and chief executive officer. While the macroeconomic
outlook remains difficult to predict, we are focused on our priorities to capitalize on rising
global demand for our products; further penetrate key markets in the worlds rapidly growing
geographies; and extend our productivity improvement programs.
DuPont will report first quarter 2008 financial results on April 22, and will host a global
web cast for investors at 9 a.m. (EDT), providing details of its first quarter results and outlook.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science
to work by creating sustainable solutions essential to a better, safer, healthier life for people
everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products
and services for markets including agriculture and food; building and construction; communications;
and transportation.
Forward-Looking Statements: This news release contains forward-looking statements based on
managements current expectations, estimates and projections. All statements that address
expectations or projections about the future, including statements about the companys strategy for
growth, product development, market position, expected expenditures and financial results are
forward-looking statements. Some of the forward-looking statements may be identified by words like
expects, anticipates, plans, intends, projects, indicates, and similar expressions.
These statements are not guarantees of future performance and involve a number of risks,
uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this
release and in documents filed with the Securities and Exchange Commission by DuPont, particularly
its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could
cause results to differ materially from those stated. These factors include, but are not limited to
changes in the laws, regulations, policies and economic conditions, including inflation, interest
and foreign currency exchange rates, of countries in which the company does business; competitive
pressures; successful integration of structural changes, including restructuring plans,
acquisitions, divestitures and alliances; cost of raw materials, research and development of new
products, including regulatory approval and market acceptance; seasonality of sales of agricultural
products; and severe weather events that cause business interruptions, including plant and power
outages, or disruptions in supplier and customer operations.
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4/10/08
E. I. du Pont de Nemours and Company