DuPont's Q2 Sales up 17% per Share

DuPont reported that its second-quarter net income attributable to the company rose to $1.218  billion or $1.29 per share, from $1.159 billion or $1.26 per share in the same quarter last year. Second-quarter 2011 earnings were $1.37 per share, up 17% from $1.17 per share in the prior year, excluding significant items from both periods.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.34 per share. Analysts' estimates typically exclude special items.
Net sales for the quarter rose to $10.26 billion from $8.62 billion in the prior year quarter. Six analysts had consensus revenue estimate of $9.86
billion for the quarter.

The company increased its full-year 2011 earnings outlook, excluding significant items, to a range of $3.90 to $4.05 per share.

The increase reflects strong second-quarter results, the expectation for continued global economic growth and about $0.05 per share full-year operating earnings from Danisco on an underlying basis. Prior guidance was a range of $3.65 to $3.85 per share, excluding the impact of Danisco. Analysts expect the company to report earnings of $3.87 per share for fiscal 2011.

The company's estimate for the impact of the Danisco acquisition on full-year reported earnings is now a reduction of $.18 to $.29 per share, versus the previous estimate of a $0.30 to $0.45 per share reduction.