Thursday, February 21, 2008
Whirlpool Quarterly Profits Climb 72 Percent
Whirlpool Corp. said its fourth-quarter profit climbed 72 percent, helped by its Maytag acquisition and an improved product mix and the weak dollar. The news sent the value of the company's shares soaring. Its net earnings for all of 2007 rose 48 percent.The appliance maker, which bought Maytag in 2006, said fourth-quarter earnings after preferred dividends increased to $187 million, or $2.38 per share, compared with $109 million, or $1.37 per share, in the prior year. Quarterly revenue grew 7 percent to $5.33 billion from $5 billion a year earlier.