UPDATE: DuPont Posts Drop In Q3 Profit, Plans To Lower 1,500 Jobs

E.I. DuPont de Nemours & Co (NYSE: DD) reported a decline in its third-quarter profit and lowered its full-year forecast. It also announced its plans to cut around 1,500 jobs.

DuPont's quarterly net income fell to $10 million, or $0.01 per share, from $452 million, or $0.48 per share, in the year-ago period. Its adjusted earnings came in at $0.44 per share.

Its total sales dropped 11.6% to $7.34 billion. DuPont now projects adjusted 2012 earnings from continuing operations of $3.25 to $3.30 per share.

DuPont shares closed at $49.76 yesterday.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.