US appliance demand weaker, but Whirlpool cautiously upbeat

Oct 28, 2010 | 11:30 AM |

North American demand for appliances weakened during the third quarter even as it grew in other regions of the world, but executives at Whirlpool Corp. are cautiously optimistic about trends for the fourth quarter and beyond.

The company's third-quarter net income fell 9.2 percent to $79 million from $87 million in the same period last year despite a 0.5-percent increase in sales to $4.52 billion from $4.5 billion as shipments rose 5.1 percent. In North America, operating earnings fell 18.6 percent to $114 million from $140 million in the same comparison as sales slipped 2.6 percent to $2.43 billion from $2.49 billion.....

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