UPDATE: DuPont Posts Upbeat Q4 Earnings

DuPont Co

reported a 70% drop in its fourth-quarter earnings. For 2013, DuPont projects adjusted earnings of $3.85 to $4.05 per share on revenue of around $36 billion. However, analysts were expecting earnings of $3.84 per share on revenue of $36 billion. DuPont's quarterly income declined to $111 million, or $0.12 per share, from $373 million, or $0.40 per share, in the year-ago period. Excluding one-time items, DuPont's earnings from continuing operations came in at $0.11 per share. Its total sales came in at $7.33 billion. However, analysts were expecting a profit of $0.07 per share on revenue of $7.26 billion. DuPont shares closed at $46.99 on Friday.