UPDATE: Whirlpool Posts Upbeat Q4 Profit

Whirlpool

reported a 40% drop in its fourth-quarter profit. For the current year, it expects earnings of $9.25 to $9.75 per share, versus analysts' estimates of $9.17 per share. Whirlpool's quarterly profit fell to $122 million, or $1.52 per share, from $205 million, or $2.62 per share, in the year-earlier period. Excluding one-time items, it earned $2.29 per share. Its sales dropped 2.4% to $4.79 billion. However, analysts expected a profit of $2.23 per share on revenue of $4.88 billion. Its gross margin rose to 16.9% from 14.5% Whirlpool shares closed at $108.72 yesterday.