Whirlpool Profit Rises 20 Percent
Whirlpool said Thursday that its fourth quarter profit rose nearly 20 percent to $205 million, which the company attributed to the success of recent cost-cutting.
"As we enter 2012, we are executing strong actions to continue to improve operating margins through our cost and capacity reduction initiatives, ongoing productivity programs and previously announced price increases," Jeff M. Fettig, Whirlpool's chairman and chief executive officer, said as part of the announcement.
"We exit 2011 with improving product price/mix, significantly lower inventory levels and strong new product innovation. These initiatives are the key drivers to improving our operating margins throughout 2012."