Equity Research on iRobot Corp. and Whirlpool Corp. -- North American Demand for Appliances Strong but Headwinds Remain
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 11/05/12 -- Companies operating in the appliances industry, such as iRobot Corporation and Whirlpool Corp., seem to have enjoyed some positive trends in the third quarter; however, headwinds remain. Consumer spending in North America has been gaining momentum recently but the situation in Europe continues to be concerning. Depressed spending has been something of a drag for companies with operations in the region. Get your free reports on and at . There is no commitment to join.
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In the third quarter, Whirlpool reported a 2 percent increase in revenues from North America, though total revenues for the quarter declined 2.8 percent year-over-year. A strong product mix and pricing as well as improved efficiency helped to offset higher raw material costs. Nonetheless, reported profits declined 58 percent year-over-year. report is accessible for free by registering today at
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Elsewhere in the industry, iRobot reported an 8.2 percent improvement in third quarter profits, aided by stronger home-robot sales. Despite these positive results, the company also brought down its full-year earnings guidance from between $0.90 and $1 per share, to between $0.44 to $0.50 cents. The adjustment, as well as the company's recent decision to cut around 13 percent of its workforce, reflects the deteriorating outlook for Defense and Security spending which could further depreciate next year. report is accessible for free by registering today at
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