DuPont post strong 4Q profit though strong dollar cuts into sales big

FILE – This Jan. 23, 2012, file photo, shows the Dupont logo on sheets of Tyvek insulation covering the outside wall of a home under construction in Springfield, Ill. DuPont Co. reports quarterly financial results on Tuesday, Jan. 27, 2015. (AP Photo/Seth Perlman, File) AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email DuPont post strong 4Q profit though strong dollar cuts into sales; big share buyback plan by Randall Chase, The Associated Press Posted Jan 27, 2015 4:41 am MDT DOVER, Del. – Changes to DuPont’s portfolio and improved productivity boosted fourth-quarter earnings and helped to offset the negative impact of a stronger dollar.The company, based in Wilmington, Delaware, boosted its estimated costs savings from operational redesigns by $300 million, to at least $1.3 billion by 2017DuPont also plans to return most if not all of an estimated $4 billion in dividend proceeds to shareholders from the spinoff of its performance chemicals unit into a separate company called Chemours. It will do that, it said, through a share repurchase program.The company has been under pressure from activist investor Nelson Peltz to reward investors.“In 2015, we remain focused on generating superior returns for our shareholders, including through return of capital from the expected Chemours dividend, while positioning DuPont for our next stage of growth,” said CEO Ellen Kullman.For the quarter, the company reported net income of $683 million, or 74 cents per share, up from $185 million, or 20 cents per share, for the fourth quarter of 2013. The latest results included a one-time, pretax restructuring charge of $299 million, which was partially offset by a one-time gain of $240 million on the sale of copper fungicides and land management businesses within DuPont’s agriculture unit. The company also reported a one-time gain of $210 million from insurance recoveries involving customer claims related to the use of its discontinued Imprelis herbicide.Adjusted earnings for the quarter were 71 cents per share, up from 59 cents and meeting the consensus estimate of Wall Street analysts surveyed by FactSet.Sales for the quarter totalled $7.4 billion, down from $7.75 billion for the final quarter of 2013. Analysts expected revenue of $7.8 billion.Sales were down across all of DuPont’s business segments, mostly due to portfolio changes and negative currency effects, but volumes were up in all regions except Latin America and in all business units with the exception of electronics and communications.For the full year, DuPont earned $3.6 billion, or $3.92 per share on sales of $34.7 billion, down from $4.8 billion, or $5.19 per share on sales of 35.7 billion. The company attributed the 3 per cent decline in sales to weak agricultural markets, portfolio changes and negative currency impacts.Operating earnings for the year increased from $3.88 per share to $4.01 a share, meeting analyst estimates. read more

18 unmistakeable signs youre a Southside Dubliner at heart

first_img1. Drinking cans on the seafront is the best summer day ever Source: Leon Farrell/Photocall Ireland2. It will always be Lansdowne Road, never the Aviva Source: clavel93. You’ve spent more nights in the Wezz than you care to admit Source: Gav4saxAcceptable substitute: Bective.4. Teddy’s ice cream is a pleasure like no other Source: infomatique5. You don’t have anything AGAINST the Northside as such. There’s just no reason to go there. Source: Photocall Ireland6. You’ve swum the Forty Foot on Christmas Day Source: Laura Hutton7. You remember the Fun Factory in Dun LaoghaireNow reduced, tragically, to this nostalgic Facebook page.8. You know at least one person who claims to have been at this Nirvana gig Source: SMcGarnigle9. Either your school had a nickname… Source: Photocall IrelandSee also: Alex, the Gick, ‘Zaga.10. … or you’re sick of being asked ‘what school did you go to’ Source: Shutterstock11. The Long Mile Road at rush hour is part of your personal hell Source: Google Maps12. You once owned a pair of Dubes, even if you now regret it Source: Graham Hughes/Photocall Ireland!13. You remember nights in Club Sarah in Rathfarnham and Club 92 in Leopardstown Source: Facebook14. You have to tell people from Bray that they’re from Wicklow, not Dublin Source: infomatique15. Before Dundrum opened, you were really excited about The Square Tallaght Source: damien_farrell16. If you’re a girl, you spent the entire early noughties without using a hairbrush Source: YouTube17. You know the view from the DART as it goes around Killiney hill is one of the world’s best Source: infomatique18. And the sight of the Poolbeg towers across the bay will always mean ‘home’. Source: PhotocallSouthside forever.21 unmistakeable signs you’re a Northside Dubliner at heart>18 things every Dubliner knows for sure>11 reasons why Cork might actually be better than Dublin>13 things you know for sure if you’re from Galway>last_img read more