Whirlpool Q3 N.A. Sales Increase 6%

By Jeff Malester On Oct 28 2002 - 8:00am




Record sales and operating profit were posted in the North American business of major appliance maker Whirlpool in the third quarter.

The company said North American sales increased 6 percent over the same three months last year, led by its Duet washer and a favorable mix of other majaps.

Operating profit increased 5 percent in North America in the third quarter, compared with a record level in the third quarter in 2001.

Success in North America helped push overall Whirlpool third quarter earnings into the black. The company reported a net profit of $101 million in the three months, ended Sept. 30, compared with a net loss of $94 million in the year-ago period.

During the quarter, Whirlpool recorded restructuring and related charges of $16 million pre-tax.

Whirlpool consolidated third quarter sales climbed 6 percent, hitting $2.8 billion, up from $2.6 billion in the same three months in 2001.

"Our regional businesses performed well during the quarter, despite economic pressures and uncertainties worldwide," said David R. Whitwam, chairman/CEO.

"The solid results were driven by the success of our brands and innovation initiatives in the marketplace, such as our Whirlpool brand Duet clothes washer and dryer, and by the benefits of our restructuring initiative and productivity improvements."

For the nine months, Whirlpool sales hit $8 billion, up from $7.7 billion in the same period last year. The company also reported a $364 year to date net loss.

Alert to All Users of the Disqus commenting system:

Because of a recent global security issue, the Disqus website recommends that all users change their Disqus passwords. Heres a URL about the issue:

http://engineering.disqus.com/2014/04/10/heartbleed.html

 

 

 

 

Connect

 

PHOTOS

Enjoy the greatest pictures taken from famous shows and events this year.

Current Issue

Webcast

This TWICE webinar,  hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.