DuPont raised its earnings guidance for the rest of 2011 to $3.90 to $4.50 (excluding items) from $3.65 to $3.85. The Wilmington chemical giant reports strong sales for its biotech seeds and paint pigment. Q2 earnings per share of $1.37 were up 17 percent compared with $1.17 per share last year.
Revenues for DuPont climbed to $10.5B from $9.1B for the 2d qtr. of 2010. The company says it will now report results with two new business segments: Industrial Biosciecnes (following its acquisition of Danisco) and Nutrition & Health (which was broken out from its previous Agriculture & Nutrition unit).
AmerisourceBergen's new CEO, Steven Collis, got to deliver good news in his first earnings announcement. The Valley Forge-based wholesale drug distributor squeezed out a 2.9 percent rise in revenue to $20.2B for its Q3. Net income of $184.4M, or 66 cents per share, increased by 13 percent.
Airgas reported higher profits for its Q1 ended June 30. The Radnor-based distributor of industrial and medical gases had net income of $74.8M, or 93 cents per share, vs. $64.8M, or 76 cents per share. Net sales were up slightly to $1.16B.
Here's what CEO Peter McCausland had to say:
Although more than a year old, the economic recovery has been slow, and the strength displayed in manufacturing-intensive regions of the U.S. and in our hardgoods business is indicative of the early stages of a recovery.
Also, Exton's ViroPharma reported lower net income for its Q2 - $22.8M, or 28 cents per share, vs. $28.5M, or 34 cents per share. The maker of Cinryze and Vancocin did see net sales rise to $128.8M from $109.0M.