Major materials provider to the PV industry, DuPont reported Electronics & Communications segment sales of US$630 million in the fourth quarter, a decline 18% compared to the same period last year, with 33% lower volume which was offset by 15% higher prices. PV related revenue represent about 40% of DuPont’s electronics segment sales. Management noted that material destocking at PV manufacturers had continued in the fourth quarter due to inventory issues, impacting pre-tax earnings, which were down from US$56 million in the fourth quarter of 2010 to US$42 million in the fourth quarter of 2011.
However, management noted in a conference call to discuss quarterly and full-year results that the PV destocking is expected to have been completed by mid-2012 or perhaps sooner as the company still expected the PV sector to grow approximately 10% this year.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Management also expected sales in the sector to be down modestly in the first quarter from fourth quarter levels with limited restocking.
