Whirlpool profit falls on lacklustre sales

Whirlpool profit falls on lacklustre sales
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First Published: Wed, Jul 22 2009. 03 39 PM IST
Updated: Wed, Jul 22 2009. 03 39 PM IST
Bangalore: Whirlpool Corp. reported a lower Q2 profit on Wednesday as sales at the world’s biggest appliance maker crumbled in the global economic slowdown.
Net earnings available to common shareholders of the maker of Maytag and KitchenAid appliances fell to $78 million, or $1.04 a share, from $117 million, or $1.53 a share, a year earlier.
In April, Whirlpool said it saw a more challenging market than it had previously expected for the rest of the year as consumers continued to delay replacement purchases, even for appliances that are beyond repair, because of the economic uncertainty.
Sales at the Benton Harbor, Michigan-based company fell 18% to $4.17 billion.
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First Published: Wed, Jul 22 2009. 03 39 PM IST