Chemical giant dupont reported second-quarter earnings fell by nearly 12%, in part because of lower price in titanium dioxide, a kind of widely used white pigment, said on Tuesday, is exploring a possible sale or spin off its performance chemicals business unit.
Global leader in dupont, titanium dioxide, titanium dioxide production, has been more than a year demand downturn white pigment, which is used in a wide range of products, from cars and house paint toothpaste.
Wilmington, based on the company reported net income of $1.03 us $, or every 1. $11, $1.17 billion, or a 1. $23, compared to the same period last year, quarter ended June 30.
Revenue fell 1% to $9.8 billion in sales of lower prices and currency effects offset the volume of the 1% of the overall gain.
Accept FactSet research of Wall Street analysts' average expectations of higher earnings to $1.27 a share, revenue of $10.04 billion.
Last summer, the United States dupont, CEO Alan KuErMan demand, get rid of the short-term weakness tio2 told analysts believe that the overall market fundamentals is "moderation". Chief financial officer said Nick Fanandakis, dupont is still the high performance of titanium dioxide chemicals units, total sales were $72 billion in 2012, it has been a major producer profits "very bullish" on medium - and long-term prospects.
But company officials said on Tuesday that they are rethinking business division in the future.
, "KuErMan said:" we have already carefully weighing our high performance chemicals business strong cash generation for their cyclical and lower growth model, and dupont comprehensive scientific strength can differentiate. "We are reviewing our high performance chemicals business is part of our ongoing plans, in order to provide a higher growth and create more value for shareholders."
In pre-market trading, the stock rose $1.63, or 2.9%, to $58.80.
In the second quarter, performance chemicals division sales fell by 9%, 15% offset a 6% drop in the price of the volume of the gain.
Dupont said, performance chemicals sector the peak level of operating income of $330 million, declined last year, mainly because the price of tio2 is low. Titanium dioxide volume increased by 12% compared to the second quarter of last year, however, the company said.
Dupont agricultural sector continues to lead the company's overall performance, posted sales higher prices and trading volume slightly increase the gain of 7%. Agricultural division, the company said sales rose 11%, the first six months of this year, corn seeds, pesticides and fungicides seed prices and sales growth. Dupont said, the company operating income growth of 8% year-on-year in the first half of this year, despite the seed cost is higher.
"Agriculture in the second quarter sales remain strong, the amount of titanium dioxide to improve," said KuErMan. "As expected, largely offset the profit performance chemicals from peak levels fell sharply during the same period last year."
The company's sales fell by 18%, electronics and communication department of lower prices and sales decline in pv market demand is weak.
Dupont said that overall sales fell by 1%, in a quarter of the North America, but in Europe, the Middle East and Africa rose 12%, and 5% in Latin America.



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