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.»
