July 24, 2012 / 10:19 AM / 6 years ago

DuPont cautious on 2012, Q2 net profit falls

(Reuters) - DuPont and Co DD.N, which makes hybrid seeds, a critical pigment for paint and Kevlar bulletproof fiber, now expects 2012 profit to be at the low end of its forecast, due in part to economic uncertainty circling the globe.

A view of the Dupont logo on a train car at the Dupont Edge Moor facility near Wilmington, Delaware, April 17, 2012. REUTERS/Tim Shaffer

The new forecast, for earnings at the “lower end” of the range of $4.20 to $4.40 per share, came after the company posted higher-than-expected quarterly profit.

Details were sparse in a press release on Tuesday announcing quarterly results, but Ellen Kullman, DuPont’s chief executive, said: “Our teams continue to executive well in a dynamic environment.”

DuPont reported second-quarter net income of $1.18 billion, or $1.25 per share, compared with $1.22 billion, or $1.29 per share, in the year-ago period.

Excluding one-time items, the company earned $1.48 per share during the second quarter. By that measure, analysts expected $1.46, according to Thomson Reuters I/B/E/S.

Revenue rose 8 percent to $11.28 billion. Analysts looked for $11.27 billion.

Reporting by Ernest Scheyder in New York; editing by Lisa Von Ahn and Jeffrey Benkoe

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