DuPont reports quarterly profit vs. year-earlier loss

Features Reuters

(Copyright Reuters 2017)

Chemical and seed producer DuPont reported a quarterly profit, compared with a loss a year earlier when the company booked charges of $770 million.

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Net income attributable to the company was $265 million, or 30 cents per share, in the fourth quarter ended Dec. 31, compared with a loss of $253 million, or 29 cents per share, a year earlier.

Net sales fell 1.7 percent to $5.21 billion.

DuPont said it now expected its merger with Dow Chemical Co to close in the first half of 2017, pending regulatory approval. DuPont said in October that closing was expected in the first quarter of 2017.

The companies have been in talks with EU antitrust regulators to save their $130 billion merger, which is also being closely scrutinized by governments around the world.

(Reporting by Arathy S Nair in Bengaluru; Editing by Anil D'Silva)