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Maytag Announces Q2 Financial Results
Jul 15, 2003
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Maytag Corporation announced its second-quarter sales and earnings were down versus a year ago, but in line with management and Wall Street expectations. The company reported second-quarter consolidated sales of U.S. $1.163 billion and operating income of $51.4 million. Reported net income was $25.2 million, or $0.32 per share. Included in these results were after-tax restructuring charges of $18.8 million, or $0.24 per share, for the closing of the company's manufacturing plant in Galesburg, IL, U.S., and a salaried work force reduction implemented during the second quarter. A year ago, second-quarter consolidated sales were $1.193 billion and operating income was $121.8 million. Reported net income for the period was $68 million, or $0.86 per share.

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