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Whirlpool Sales, Earnings Up Sharply

Apr 26, 2010, 1:54 PM
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The world is regaining its taste for new appliances, and Whirlpool Corp. says earnings for the first quarter jumped 141% to $164 million, compared with $68 million during the same period last year. Sales at the Benton Harbor, Mich.-based company shot up 20% to $4.3 billion, from $3.6 billion in the year-ago period. Factoring out currency exchange, worldwide sales gained 11%, with a 5% gain in North America.

"We are pleased with the strong operational performance we reported in all of our regions," Jeff M. Fettig, chairman/CEO, says in a release. "We are encouraged with the 18% increase in our global unit volumes during the quarter. Our results reflect our lower breakeven point, continued innovation investment, and our expanding global product offerings." And despite continuing economic uncertainly, the company raised it financial forecasts for the year.--Sarah Mahoney

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