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Danisco acquisition pads profits at DuPont and better prices offset rising costs
DOVER, Del. (AP) ' The DuPont Co. says strong performance by its agricultural and performance chemicals units and its acquisition of Danish food maker Danisco last year contributed to an increase in first-quarter earnings.
The company, based in Wilmington, Del. is reporting net income of $1.49 billion, or $1.57 per share, for the quarter that ended March 31, compared to $1.43 billion, or $1.52 per share, for the first quarter of last year.
The results released Thursday are short of analysts' average prediction of $1.55 per share, according to a poll by FactSet.
Sales grew 12 percent to $11.2 billion, as higher local prices and portfolio changes helped offset lower volumes.
The acquisition of Danisco helped send pre-tax operating income in DuPont's nutrition and health unit soaring to $83 million, from $25 million.