DCS Proving to be a Financial Weight on F&P
Submitted by Bermuda Bob on Fri, 05/28/2010 - 4:08am.
Two (2) New Zealand Stock-Market publications are reporting that DCS has become a financial milestone of sorts to Fisher & Paykel, by adding to an overall loss of $83.3M for the company ...
DCS was assigned a $22M charge, as it was explained that North America, their 2nd largest market after Australia, sales plunged over 26%, as difficult trading conditions, reduced sales, and stiff competition were seen as the culprits !!!
... and in an even more worrisome consideration ... Fisher & Paykel is declining to give an earnings guidance for the current financial year, citing "fragile demand conditions" ...
One wonders what the Lowe's people, and certainly the folks @ Haier are thinking as this is the 2nd year of a sizeable decline ... and how long ,DCS will be around !?!?!
