Whirlpool reports 76% profit decline

Whirlpool Corp reported a 76 percent drop in fourth-quarter profit as sales crumbled in the global slowdown and the world's biggest appliance maker said earnings would also fall in 2009.

Laura Champine, an analyst with Cowen & Co, said investors may be relieved after Whirlpool said during a conference call that its pension contribution would be funded at levels that allow it to pay its dividend. She also said results could improve as cost pressures ease.

"As people look at commodity prices which at some point should be coming down and you look at demand in the United States at 1998 levels, it's easy to see that you might have earnings power in 2010" beyond the levels forecast for this year, Champine said.