REPEAT/Whirlpool Corporation Comments on Product Availability and Performance Expectations

Business Wire, Nov 3, 1999

BENTON HARBOR, Mich.--(BUSINESS WIRE)--Nov. 3, 1999--

In response to published reports concerning the availability of its products, Whirlpool Corporation (NYSE:WHR) said today that while its North American business has experienced some, temporary, delays in shipping its products following implementation of a new software system, it remains on track to deliver a year of record performance.

"The temporary product shipping delays we've experienced in certain parts of our business since implementing the new system in early September - most of which are already behind us - are due as much to the strength of our North American business, which continues at all-time record levels, as to issues we've already addressed with the new system," said Whirlpool Chairman and CEO, David R. Whitwam.

"Since converting to the new system in early September, we continue to ship our products at record levels, which are well above appliance industry averages," added Whitwam. "As we stated in our third quarter earnings announcement, we expect to deliver record levels of revenue and operating profit in the fourth quarter not only for our North American business, but also for our consolidated worldwide results. And, we remain comfortable with the Wall Street consensus earnings estimate for our fourth quarter, which will produce earnings growth of more than 30 percent from 1998 levels."

Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances. Headquartered in Benton Harbor, the company manufactures in 13 countries and markets products under 11 major brand names in more than 170 countries. Additional information about the company can be found on the Internet at www.WhirlpoolCorp.com.