Jim Cramer Blog

Chemical giant DuPont Co. on Tuesday reported flat second-quarter earnings as higher sales were offset by the cost of energy and accelerated biotech research.
International sales growth and higher local selling prices helped offset the impact of continuing weakness in the U.S. housing and automotive markets, and DuPont reaffirmed its outlook for the full year.

Net income slipped to $972 million from $975 million in the second quarter of 2006, which included a one-time tax benefit of $31 million, or 3 cents per share. Earnings per share were flat at $1.04. Excluding the tax benefit of 3 cents per share in the prior-year period, earnings would have been $1.01 per share for the 2006 quarter.
Analysts surveyed by Thomson Financial were looking for profits of $1.06 per share, although revenue topped Wall Street's $7.86 billion consensus estimate.

Labels: DD, DuPont Co.