Whirlpool first-quarter profit falls

The maker of Maytag and KitchenAid appliances reported first-quarter earnings of $68 million, or 91 cents a share, compared with $94 million, or $1.22 a share, a year earlier.

Sales cut 23 percent to $3.6 billion.

The Benton Harbor, Michigan-based companionship has seen its sales break up in the worldwide slowdown and had warned earlier in the year that profits would carry on to descend in 2009.

Whirlpool, which has been in talks with banks circular renewing belief lines, has frozen salaries, reduced its contribution to retirement plans and captivated other steps to cut costs.

(Reporting close by Dhanya Skariachan in Bangalore; Editing close by Lisa Von Ahn)