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DuPont Q1 Revenue Down 17%

Published: 22 April 2009
 by Staff
WILMINGTON, DE – The fourth-quarter slump has seeped into first-quarter results for DuPont. The company reported revenue for the quarter fell 17% from last year to $7.27 billion, forcing a revision to its full-year earnings outlook.
 
First-quarter profit slid 59%, and the company is preparing for continued volatility in plastic and chemical demand. Net income was $488 million, compared to $1.2 billion last year.

In the electronic and communication technologies segment sales was $696 million, down 32%.

Consolidated sales fell 20% over last year to $6.9 billion. All regions saw double-digit drops in volume.
 
Orders did show signs of improvement in March, and the company expects flat or slightly higher sales in the second quarter.
 
The fixed cost reduction goal for the year was increased from $730 million to $1 billion, and the company plans reductions in contractor positions and work schedules as a means to cut costs.

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