UPDATE: Whirlpool Posts Higher Q1 Profit

Whirlpool WHR reported a rise in its first-quarter profit. Whirlpool's quarterly profit surged to $252 million, or $3.12 per share, from $92 million, or $1.17 per share, in the year-earlier period. Excluding one-time items, it earned $1.97 per share. Its sales declined 2.3% to $4.25 billion. However, analysts were expecting earnings of $1.93 per share on sales of $4.39 billion. Whirlpool's gross margin rose to 17.1% from 14.9%. Whirlpool shares closed at $122.00 yesterday.