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Letter to the Editor
Tuesday January 27
DuPont Posts 4Q Loss
Chemical maker DuPont Co. reported a $629 million loss for the fourth quarter, due to lower sales and a large restructuring charge, and cut its earnings forecast for 2009.Net sales in the quarter dropped 17 percent to $5.8 billion from $6.98 billion. The company reported a 20 percent decline in volume. Higher prices in all regions and across all business segments were more than offset by volume declines and negative currency effects.
The company said declines in consumer spending, construction, and motor vehicle sales led to a sharp drop in demand and a steep decline in global industrial production.
Full year 2008 earnings were $2 billion, or $2.20 per share, down from $2.9 billion, or $3.22 per share, in 2007.
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