Maytag Corporation Reaffirms 2004 Earnings Forecast
01 3월 2004 - 10:01PM
PR Newswire (US)
Maytag Corporation Reaffirms 2004 Earnings Forecast ORLANDO, Fla.,
March 1 /PRNewswire-FirstCall/ -- Maytag Corporation today
reaffirmed its 2004 earnings estimates during the 25th annual
Raymond James Institutional Investors Conference. (Logo:
http://www.newscom.com/cgi-bin/prnh/20000505/MYGLOGO ) Ralph F.
Hake, chairman and CEO of Maytag Corporation, and George C. Moore,
executive vice president and CFO of Maytag Corporation, reiterated
that for the full year the company is expecting reported earnings
of $1.90 to $2.00 per share, including restructuring charges of 40
cents related to the closing of its Galesburg, Ill., plant. As
previously announced, earnings per share in the first quarter are
expected to be in the range of 42 to 47 cents including
Galesburg-related restructuring charges of 8 cents. "We anticipate
low single digit growth in unit sales in the major appliances and
floor care industries in 2004," Hake said. "We expect to outgrow
the industry in both categories and expect to improve profitability
through our product launches, sourcing agreements and efficiencies
gained through LeanSigma(R) implementation." One recent development
of concern is the imposition of surcharges and proposed price
increases for steel. "We're working to overcome the impact," Hake
said. "We have implemented cost reduction measures and will
continue to take other actions to offset the risk of increases in
steel costs in 2004." Maytag Corporation is a leading producer of
home and commercial appliances. Its products are sold to customers
throughout North America and in international markets. The
corporation's principal brands include Maytag(R), Amana(R),
Jenn-Air(R), Jade(R), Hoover(R) and Dixie-Narco(R). Audio Webcast
Maytag will offer an audio version webcast today at 8:40 a.m. EST
of Hake and Moore's remarks at the Raymond James Conference.
Persons wishing to participate should go to
http://www.wallstreetwebcasting.com/webcast/rjii04 (login: event;
password: viewer) at least 15 minutes prior to the event to
register, download and install any necessary audio software. For
those unable to listen to the live broadcast, a replay will be
available for up to 30 days by accessing the above address. There
is no charge to access the event. The audio webcast can also be
accessed through Maytag's Web site, http://www.maytagcorp.com/ , by
clicking on the "Corporate News Center" and then "Conference
Calls." Forward-Looking Statements: Certain statements in this news
release, including any discussion of management expectations for
future periods, constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results to
differ materially from the future results expressed or implied by
those statements. For a description of such factors, refer to
"Forward-Looking Statements" in the Management's Discussion and
Analysis sectionof Maytag's Annual Report on Form 10-K for the year
ended December 31, 2003, and each quarter's 10-Q. For more
information, contact: Lynne Dragomier, Maytag Corporate
Communications, at (641) 787-7711
http://www.newscom.com/cgi-bin/prnh/20000505/MYGLOGO
http://photoarchive.ap.org/ DATASOURCE: Maytag Corporation CONTACT:
Lynne Dragomier of Maytag Corporate Communications, +1-641-787-7711
Web site: http://www.maytagcorp.com/
http://www.rjcapitalmarkets.com/conference_detail_main.asp?content_id=39
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