bank of america posts 95 pc drop in net income, page-10

Of course the markets will ignore this news which just came out after Bank of America:

NEW YORK (CNNMoney.com) -- Chemical producer DuPont Co. reported higher fourth-quarter operating income and revenue Tuesday, beating analysts' forecasts.

Wilmington, Del.-based DuPont (DD, Fortune 500) said income excluding extraordinary items rose to $545 million, or 57 cents per share, from $422 million, or 45 cents, a year earlier.

Including the extraordinary items, net income fell to $545 million, or 60 cents a share, from $449 million, or 94 cents, in the year-earlier period.

Analysts expected fourth-quarter earnings per share of 49 cents.

The company said revenue for the quarter was $7 billion, an 11 percent increase over the previous year. Analysts expected DuPont to report revenue of $6.67 billion for the quarter.

DuPont said its large global presence and strong sales in the agricultural sector boosted revenue in the quarter.

For the full year 2007, the company said earnings per share came to $3.22 versus $3.38 for the full year in 2006. But excluding certain items, the company said 2007 earnings increased 14 percent to $3.28 per share compared to $2.88 the prior year.