NEW YORK (Standard&Poor's) July 27, 2004--Standard&Poor's Ratings Services said today that E.I. DuPont de Nemours&Co.'s (AA-/Negative/A-1+) announcement that the company's second-quarter net income was somewhat weaker year over year does not affect the ratings or outlook on the company. Net income for the most recent quarter declined to $503 million from $675 million in the second quarter of 2003. The decline principally reflects restructuring costs and separation charges, in part the result of the sale of INVISTA for net after-tax proceeds of about $4.1 billion, including the assumption of debt. Still, net income before special items improved 29% to $805 million for the quarter compared with $623 million for the comparable quarter of 2003.
