The company’s adjusted earnings per diluted share were $0.17 in the second quarter of 2008 versus $0.41 in the second quarter of 2007. Gross margin for the second quarter of 2008 increased by $125 million, or 14%, to $1 billion in comparison with the second quarter of 2007.
During the second quarter of 2008, revenues increased by $806 million, or 24%, to $4.1 billion, compared to the second quarter of 2007. The increase in revenues reflects higher prices across all regions and increased volume in Latin America of approximately $490 million, as well as favorable foreign currency translation of approximately $305 million.
During the first half of 2008, revenues increased by $1.8 billion, or 28%, to $8.3 billion, compared to the first half of 2007. Year-to-date income from continuing operations was approximately $1.1 billion or $1.65 per diluted share, versus $399 million or $0.59 per diluted share during the same period in 2007.
