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Dupont posts positive first-quarter results

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Strong seed sales and growth outside the United States boosted E.I. du Pont de Nemours & Co.’s first-quarter earnings by 15 percent, the company reported today. Net income for the parent company of Johnston-based Pioneer Hi-bred International Inc. was $945 million, or $1.01 per share, compared with $817 million, or 88 cents per share, in the first quarter of 2006.

Contributing to these results was a 6 percent revenue growth driven by significantly higher seed sales, increased pharmaceuticals income, fixed cost productivity gains and a favorable currency impact. Sales in the agriculture and nutrition division grew 13 percent to $2.5 billion, with good results at Pioneer,.

Dupont reaffirmed its outlook for 2007 earnings per share of about $3.15 as growth outside the United States and strong agricultural seed markets overcome lower demand from the U.S. housing and automotive markets.