While the future of the Newton-based Maytag appliance company remains up in the air, officials reported improved economic news today. Maytag Chairman and C-E-O Ralph Hake says they company had three-point-five-million dollars in earnings. He says they had higher sales volume and savings from restructuring. He says the savings were offset by higher costs of raw materials, higher distribution and fuel costs and lower pricing. Hake says sales company wide were up nearly seven percent — the third consecutive quarter of higher sales. He says sales increased seven-point-nine percent in home appliances and other segments also improved. Net income thus far is 11-point-two million dollars, compared to a two-point-four million dollar net loss last year. There are two offers on the table from companies that want to buy Maytag, but Hake says that won’t change they way the company operates. He says they continue to implement their plans to launch new and innovative products, and will continue working for progress in quality and cost reduction. Hake did not take shareholder questions today due to the pending buy-out proposals.
You are here: / / Maytag reports good financial news