Electrolux Reports Drop In Q4 Profit

Electrolux AB (OTC:

) reported a decline in its fourth-quarter profit. Electrolux's quarterly net profit dropped to 220 million Swedish kronor ($33 million), from SEK677 million, in the year-ago period. Its sales rose to SEK28.37 billion from SEK27.6 billion. However, analysts were expecting a net profit of SEK475.5 million on sales of SEK27.9 billion. Electrolux's board of directors proposed a final dividend of SEK6.50 per share. Electrolux's shares closed at $38.84 yesterday.