8-KOther Events

EIDP, Inc. 8-K Report (Jan 15, 2003)

Filed January 15, 2003For Securities:CTA-PBCTA-PA

Summary

E. I. du Pont de Nemours and Company (DuPont) filed a Form 8-K on January 15, 2003, to update its outlook for the fourth quarter of 2002. The company now anticipates reported earnings per share to be between $0.31 and $0.33, which is slightly lower than its previously issued guidance. While the net impact of special items is expected to be immaterial, the company noted that pre-tax operating results in the second half of the quarter were below expectations. However, DuPont expects this shortfall to be largely mitigated by a significant benefit stemming from a further reduction in its effective income tax rate for the full year 2002. Investors will receive detailed financial results for the fourth quarter and the full year 2002 on January 28, 2003, through a press release, website postings, and an investor conference call. The company emphasized its long-standing history and broad range of science-based solutions across various markets.

Key Highlights

  • 1DuPont updates Q4 2002 earnings outlook to be between $0.31 and $0.33 per share, slightly below prior guidance.
  • 2The net impact of special items for Q4 2002 is expected to be immaterial.
  • 3Pre-tax operating results in the second half of Q4 2002 were lower than expected.
  • 4A significant benefit from a further reduction in the effective income tax rate for full-year 2002 is expected to largely offset the operating shortfall.
  • 5Full Q4 and full-year 2002 results will be announced on January 28, 2003.
  • 6The company is a 200-year-old science company with diverse market applications.

Frequently Asked Questions

The primary reason for the updated earnings outlook is that pre-tax operating results in the second half of the fourth quarter of 2002 were lower than expected. However, this shortfall is expected to be significantly offset by a benefit from a reduced effective income tax rate for the full year 2002.

No, the company stated that the net impact of special items for the fourth quarter is expected to be immaterial.

DuPont will provide detailed fourth quarter and full-year 2002 results on January 28, 2003, through a news release, website postings, and an investor conference call.

The significant benefit from a further reduction in the effective income tax rate for the full year 2002 is expected to largely compensate for the weaker-than-anticipated pre-tax operating results in the latter half of the fourth quarter.