News Summary: DuPont 4Q earnings sink, beats view

Published on NewsOK Modified: January 22, 2013 at 2:38 pm •  Published: January 22, 2013

BIG DECLINE: Soft demand for a key industrial pigment and solar energy products, coupled with increased spending on growth initiatives, led to a sharp drop in the DuPont Co.'s fourth-quarter income. But the results beat Wall Street's expectations.

LOOKING AHEAD: DuPont chairwoman and CEO Ellen Kullman said the company is stronger than it was a year ago, having recorded nearly 2,300 new product introductions in 2012, an increase of 30 percent.

STOMPING WEEDS: One-time items included $135 million to resolve legal claims stemming from the use of DuPont's Imprelis weedkiller on trees such as Norway spruces and white pines. It has now spent $750 million on Imprelis claims. CFO Nick Fanandakis said DuPont wants "to bring closure to this as soon as possible."