DuPont posts grim earnings
April 24, 2009
WILMINGTON, DE — Chemical giant DuPont reported a first-quarter net income of $489 million, down 59 percent from the $1.2 billion net income in the year-ago quarter, according to Market Watch.
Total first-quarter sales dropped $1.5 billion, from $8.77 billion one year ago to the current $7.27 billion, the story stated.
The company is blaming the decrease in sales on the "severe decline in global industrial demand," the story noted.
DuPont''s earnings of 54 cents per share were on par with analysts predictions of 53 cents per share, the story added.
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