DuPont’s emerging markets sales grow 25%

Third quarter 2008 earnings per share were $.40, including a hurricane- related charge of $.16 per share. Excluding significant items, earnings were $.56 per share compared to $.59 per share in the third quarter 2007.

-- Sales increased 9 percent to $7.3 billion, reflecting 9 percent higher local selling prices, a 4 percent currency benefit and 4 percent lower volume. Continuing growth in emerging markets, where sales increased 25 percent, contributed to 16 percent sales growth outside the United States.

-- Higher selling prices more than offset a 16 percent increase in raw material, energy and freight costs.

-- Agriculture & Nutrition sales grew 22 percent, reflecting strong demand in the southern hemisphere.

-- For the nine months ended September 30, 2008, earnings per share were $3.05, up 13 percent excluding significant items.

-- The company provided fourth quarter 2008 earnings guidance of $.20 to $.25 per share which reflects continuing hurricane-related business interruption impacts of about $.10 earnings per share and expected weakening demand in North American and Western European markets.

-- The company revised its full-year 2008 earnings outlook to a range of $3.25 to $3.30 per share, excluding?significant items. The previously provided full-year outlook was a range of $3.45 to $3.55 per share.
"Our businesses performed well in the third quarter despite hurricanes and slower economies around the world, reflecting the strong position of our science-based products in production agriculture, photovoltaics and emerging markets," said DuPont Chairman and CEO Charles O. Holliday, Jr.

Weather-Related Impacts
The company recorded a one-time pre-tax charge of $227 million or $.16 per share in the third quarter for costs associated with clean up, restoration of manufacturing operations, and lost inventory resulting from hurricanes. Storm surge caused significant damage at the company's plant in Orange, Texas. The company declared "force majeure" for ethylene copolymers and certain other ethylene-based product lines. In addition to the $.16 per share charge, the company estimates business interruption impacts from the hurricanes at about $.02 per share in the third quarter and about $.10 per share for the fourth quarter.

Global Consolidated Sales and Net Income
Consolidated net sales grew 9 percent to $7.3 billion. Sales outside the United States grew 16 percent and accounted for 68 percent of worldwide sales. Sales in emerging markets grew 25 percent. A 9 percent increase in local selling prices more than offset lower global sales volumes resulting from weak demand in motor vehicle and construction-related markets, and hurricane disruptions. The table below shows worldwide and regional sales performance of third quarter 2008 versus third quarter 2007.