WHIRLPOOL: net sales recorded 4.8 billion dollar

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Jeff M. Fettig, chairman and CEO of Whirlpool Corporation
Jeff M. Fettig, chairman and CEO of Whirlpool Corporation

Whirlpool announced that company’s net sales in the first quarter 2015 reached 4.8 billion dollar, compared to 4.4 billion dollar during the same prior-year period, an increase of over 11 percent. Excluding the impact of both foreign currency and Brazilian tax credits, sales increased over 23 percent, primarily driven by the acquisitions.
First-quarter GAAP operating profit totaled 303 million dollars compared to 281 million dollar in the same prior-year period. Ongoing business operating profit totaled 318 million dollar, or 6.6 percent of sales, compared to 302 million dollar, or 6.9 percent of sales, in the same prior-year period. Ongoing business operating margins benefited from acquisition integration activities and cost and capacity-reduction initiatives, which were offset by unfavorable currency.
«Our integration plans in Europe and China – said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation – remain on track and we have taken actions to overcome recent currency movements. We continue to invest in our leading brand portfolio and innovative new products while adjusting to a continuing volatile global economy.»