Operating cash flow of $610 million, $1.2 billion cash balance; 39.8 percent gross margin; Revenue impacted by continued weakness in global economy; Increasing guidance for full-year earnings and operating cash
Today DuPont announced strong results for the third quarter 2009. DuPonts third quarter earnings were $0.45 per share compared to third quarter 2008 earnings of $.40 per share which included a $.16 per share hurricane-related significant item charge.
Total company sales for third quarter 2009 were $6.0 billion, with sales in emerging markets rebounding from significantly lower levels in the first and second quarters. Pricing discipline contributed to segment pre-tax margins returning to prior year levels.
DuPont revised its full-year 2009 earnings outlook to a range of $1.95 to $2.05 per share, excluding significant items. This reflects a narrowing toward the upper end of the companys previous range of $1.70 to $2.10 per share. The full-year free cash flow target remains $2.5 billion.
DAVE CONNOR NAMED NEW VICE PRESIDENT OF ENGINEERING
The employee consultation negotiations at UPM Rauma mill, started in September, have now been concluded. The negotiations concerned improving the mill’s competitiveness through more flexible and cost-efficient ways of operating. The number of mill personnel will be reduced by altogether 73 persons, out of which 45 are shop-floor employees and 28 salaried employees.
98 Percent of Outstanding Notes Validly Tendered
