DuPont third-quarter profit beats the street

DOVER, Del. -- DuPont says cost-cutting helped offset lower volumes and contributed to a surprisingly strong increase in third-quarter earnings.

The Wilmington-based chemical maker today reported net income of $409 million, or 45 cents per share, up from $367 million, or 40 cents per share, in the year-ago quarter, which included a hurricane-related charge of 16 cents per share.

Analysts had expected earnings of 33 cents a share.

Total sales dropped 20 percent to $6.16 billion, reflecting 12 percent lower volume.

DuPont Co. says it expects improving demand in key markets, as well as lower raw material costs. It narrowed its full-year earnings outlook to a range of $1.95 to $2.05 per share, excluding items, from $1.70 to $2.10.

-- The Associated Press