News

• Third quarter 2008 earnings per share were USD .40, including a hurricane-related charge of USD .16 per share. Excluding significant items, earnings were USD .56 per share compared to USD .59 per share in the third quarter 2007.

• Sales increased 9 percent to USD 7.3 billion, reflecting 9 percent higher local selling prices, a 4 percent currency benefit and 4 percent lower volume. Continuing growth in emerging markets, where sales increased 25 percent, contributed to 16 percent sales growth outside the United States.

• Higher selling prices more than offset a 16 percent increase in raw material, energy and freight costs.

• Agriculture & Nutrition sales grew 22 percent, reflecting strong demand in the southern hemisphere.

• For the nine months ended September 30, 2008, earnings per share were USD 3.05, up 13 percent excluding significant items.

Global Consolidated Net Income and Sales

Consolidated net sales grew 9 percent to USD 7.3 billion. Sales outside the United States grew 16 percent and accounted for 68 percent of worldwide sales. Sales in emerging markets grew 25 percent.  A 9 percent increase in local selling prices more than offset lower global sales volumes resulting from weak demand in motor vehicle and construction-related markets, and hurricane disruptions.