Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Whirlpool Corp. Reports Fourth Quarter
Feb 5, 2003
 Printable format
 Email this Article
 Search

Whirlpool Corporation (NYSE:WHR) today announced fourth-quarter 2002 results, highlighted by record sales and a solid operating performance that was in line with expectations.

Charges for the restructuring initiative and the company's previously announced write-off of aircraft-lease assets were reflected in a fourth-quarter net loss of $29 million, or $0.42 per diluted share, compared to net earnings of $21 million, or $0.31 per diluted share, in the prior year period. Excluding fourth-quarter charges, core earnings of $113 million increased 4 percent from the prior year period. Core earnings of $1.64 per diluted share compared to $1.58 per diluted share in the fourth quarter of 2001.

Net sales of $2.9 billion increased 11 percent from the prior year period. Excluding consolidated sales from the company's acquisitions in 2002 -- Polar S.A. of Poland and Vitromatic S.A. de C.V. of Mexico -- and the impact from currency translations, net sales increased 7 percent.

For the full year, record net sales of $11 billion were up 6 percent from 2001, or 5 percent excluding consolidated sales from the company's acquisitions in 2002 and the impact from currency translations.

"Despite the economic uncertainties in virtually every market in which we compete worldwide, our operations delivered record sales and a solid operating performance," said David R. Whitwam, Whirlpool's chairman and CEO. "Much of the improvement is due to Whirlpool's brand and innovation strategies and the success of our new product introductions in every part of the world. During the quarter, we also recorded final charges for the company's global restructuring effort that began in December 2000. When fully implemented, the restructuring is expected to reduce annual costs by more than $200 million. The fourth-quarter contributions from restructuring, productivity and innovation have strengthened our global business portfolio and positioned our operations for continued growth in 2003."

Back to Daily News

 

Daily News

...........................................................

Dec 22, 2014: Whirlpool headquarters improvements start a new phase

Dec 22, 2014: DOE's Building Technologies Office releases Roadmap for Emerging HVAC Technologies

Dec 22, 2014: Variable-speed circulation pump enables new Miele lab washers

Dec 22, 2014: The latest retail data breach: Staples

Dec 22, 2014: Consumer Spending Index is at its highest point of the year

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: Appliance Magazine Market Insight Annual Subscriptions
November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows