Newton-based Maytag Corporation released its third-quarter financial report today (Thursday), reporting net earnings of nine-cents a share. The seven-and-a-half-Million dollars in net income is up from the loss the appliance maker reported in the second quarter, but down from the profit of a year ago. In announcing the third-quarter results this morning, Maytag C-E-O Ralph Hake said sales of major appliances increased by four-percent. He says that was accomplished at the same time the company was integrating its purchase of Hoover into the corporate structure and reducing the salaried workforce by 750 people. Hake says Maytag’s market share results the last three months were both good and bad, compared to the previous quarter. Floor-care appliances continued to lose market share in the third quarter, the laundry and cooking appliance business gained, and the refrigeration division continued to suffer.
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