Weak demand, higher costs hurt Whirlpool

2/1/2012

BENTON HARBOR, Mich. -- Whirlpool Corp, the world’s largest appliance maker, reported a drop in quarterly sales, hurt by a stronger dollar and weak global demand.

High raw materials costs also hurt the maker of Maytag and KitchenAid appliances in the fourth quarter, when sales fell to $4.9 billion from $5.0 billion a year earlier.

Whirlpool’s net earnings rose to $205 million, or $2.62 a share, from $171 million, or $2.19 a share, a year earlier. Excluding special items, it earned only 32 cents a share.