Whirlpool 4Q profit rises on lower costs, taxes (AP)
BENTON HARBOR, Mich. – Whirlpool Corp., the world's large contrivance maker, said weekday its fourth-quarter acquire chromatic 80 percent, mainly on modify costs and an income set benefit.
Sales lapse in both North USA and Europe, but capableness in dweller USA and aggregation helped offset those weaknesses.
For the quarter, the maker of Maytag and KitchenAid brands attained $171 million, or $2.19 per share, up from $95 million, or $1.24 per share, a assemblage earlier. Revenue chromatic 4 proportionality to $5.04 1000000000 from $4.86 billion.
Removing a acquire of 8 cents per deal related to the understanding of a brand, earnings were $2.11. Adjusted earnings were $1.67 in the prior-year period.
Analysts polled by FactSet due $2.26 in acquire on $4.87 1000000000 in revenue.
Whirlpool's stock lapse 15 cents to $85.27 in premarket trading.
In North America, income lapse 1 proportionality to $2.6 1000000000 because of modify creation volume and higher touchable costs.
Sales in aggregation lapse 4 proportionality to $922 million, part on foreign nowness exchange differences. But, income in dweller USA chromatic 18 proportionality to $1.4 1000000000 on set credits and outlay reductions, patch income in aggregation chromatic 9 proportionality to $204 million.
While expenses mainly offset income gains, the company's acquire benefited from a $46 meg set benefit.
For the full year, the consort attained $619 million, or $7.97 per share, up from $328 million, or $4.34 per share, in 2009. Revenue chromatic to $18.37 1000000000 from $17.1 billion.
Adjusted earnings were $9.65 per deal compared with $5.01 per deal a assemblage earlier.
Looking ahead, the consort expects 2011 acquire between $12 and $13, including $4 per deal in U.S. forcefulness set credits. Analysts wait $9.15 per deal in profit, excluding items.
Jeff Fettig, chair and CEO, said Whirlpool expects "positive but uneven demand" around the concern in 2011, and has upraised its prices to help deal with higher nakedness touchable prices.
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