Whirlpool Swings to Profit in 4th Quarter
From Associated Press/Bloomberg News
Appliance maker Whirlpool Corp. said increased productivity at its North American and European operations helped it turn a fourth-quarter profit.
Whirlpool said it earned $125 million, or $1.76 a share, in contrast to a loss of $29 million, or 42 cents, a year before. A falling U.S. dollar against the euro helped contribute to a 14% increase in revenue to $3.4 billion.
Shares of the Benton Harbor, Mich.-based company fell $1.59 to $73.31 on the NYSE.
Investors may have been disappointed that higher prices for some of the company’s products didn’t translate into more profit, analysts said
