DuPont company came out with earnings that have exceeded what analysts said the Delaware company would earn.
Most experts thought DuPont would earn 32cents a share. Instead it earned 40 cents a share with earnings of $376million. That’s down from the same period last year, but the company saw enough promise in this earning report to up their expectations for earnings for 2011.
A company news release said electronics, communications, and performance chemicals were responsible for the jump. Sales were up 15% world wide. It was up 24% in developing nations. “The fourth quarter was a strong finish to an outstanding year. We laid the groundwork for recovery in 2009 and executed with precision and effectiveness in 2010, meeting and often exceeding our business goals and financial commitments, some a full year early,” said DuPont Chair and CEO Ellen Kullman.
DuPont has broadened its base from a chemical company to more in the bio-tech field. It recently started buying up shares for Danisco as part of its agreement to buy the Danish food enzyme company.