Diversified, commodity firms show mixed results.(top of the week)(Financial report)

Fourth-quarter earnings reports at diversified, commodity and industrial gases firms showed mixed results, as strong pricing offset volume declines for many companies. Companies, however, remain cautiously optimistic for 2012 after a soft second-half of 2011.

DuPont reported fourth-quarter net income of $373 million, down 1% from the year-ago quarter, as volumes fell 10%. Sales were up 14%, to $8.4 billion, on higher prices. Reported diluted earnings excluding one-time items was 35 cts/share, 6% above the midpoint of analyst estimates as reported by Thomson Reuters (New York). DuPont reported diluted earnings excluding one-time charges of 50 cts/share in the year-ago quarter. DuPont says that pricing was up 14% year-over-year, providing a 98-ct/share benefit to earnings in the quarter. That offset the negative impact of weaker volumes, higher operating costs, and higher taxes.

DuPont says that volume declines were driven by destocking in photovoltaics, polymer and industrial supply chains, as well as weaker demand for products …