Jeff Gordon's DuPont (NYSE:DD) Chevrolet continues to burn rubber, but investors looking for DuPont's stock to tear up ticker tape should probably look elsewhere. This giant chemical company and Dow component will continue on its lumbering pace, but don't let it lull you to sleep. There is enough Dr. Spock-like ingenuity behind this company to put it on the cutting-edge of some very high-growth industries.

One such area is the next-generation military vests produced by companies like DHB (AMEX:DHB). DuPont's Kevlar fibers product line makes it possible for U.S. servicemen and women to strap on the most advanced body armor in the world. So, is its cutting-edge line-up trickling down to the bottom line? Let's take a look through its latest quarterly report.

Fiscal 2005 first-quarter sales came in at $7.8 billion, down from last year's mark of $8.2 billion. However, when you exclude its divested textiles biz, which accounted for $1.9 billion of revenues in the first quarter of 2004, DuPont's sales actually increased 11% year-over-year. Double-digit revenue growth is impressive for a company of this size.

One concern for investors is whether it is able to handle rising energy and raw materials costs. DuPont states that 5% higher prices on its products were enough to absorb the negative effect of increased ingredient costs. The result is that its operating profit margin, which was 9.8% a year ago, showed a dramatic improvement to 19% -- better by 93.9%.

DuPont's strong margins allowed it to earn $0.96 per share for the period -- 45% higher than a year ago. Because of its solid quarterly results, the company reaffirmed its earnings estimate of $2.65 to $2.85 per share for fiscal 2005. At a price of around $46.50, the enterprise is valued at 16 times current-year earnings.

This company is no Gordon racecar, but its earnings and sales growth give it enough acceleration to support the stock's valuation. At this level, DuPont certainly warrants further consideration for potential investors.

For more Foolish analysis on DuPont, check out these articles:

Fool contributor Jeremy MacNealy does not own shares in any of the companies mentioned.