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DuPont Profit Falls 57%

DuPont, which is making a big push into the agriculture market, reported a steeper-than-expected 3 percent fall in quarterly revenue as severe winter in North America delayed the planting of crops.Sales in the agriculture business, DuPont's biggest, fell 6 percent, the first decline in ten quarters, due to lower demand for seeds and herbicides in North America and lower corn plantings in Brazil and North America."Impact of the weather pushed a lot of the agriculture demand out of the quarter and into the second quarter," SunTrust Robinson Humphrey analyst James Sheehan said.Operating earnings fell 5 percent to $1.44 billion in the agriculture business.DuPont, however, backed its full-year 2014 operating earnings of $4.20-$4.45 per share.In the first quarter, operating earnings increased in five of DuPont's seven units, including industrial biosciences, nutrition & health and performance materials businesses.As part of DuPont's strategy to move into less volatile businesses, the company...

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