UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 23, 1998
Commission file number 1-655
MAYTAG CORPORATION
A Delaware Corporation I.R.S. Employer Identification No. 42-0401785
403 West Fourth Street North, Newton, Iowa 50208
Registrant's telephone number: 515-792-7000
N/A
(Former name or former address, if changed since last report.)
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Item 5. Other Events
On March 23, 1998, Maytag Corporation issued a press release indicating it
expects first quarter 1998 sales to exceed first quarter 1997 sales by as much
as 25 percent and expects results for the first quarter of 1998 to be much
better than the current earnings per share consensus estimate of financial
analysts published by First Call.
A copy of the Company's press release issued March 23, 1998 is attached as
Exhibit 99(a) and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(c)Exhibits.
The exhibits accompanying this report are listed in the accompanying
Exhibit Index.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Maytag Corporation
(Registrant)
By: s/s G. J. Pribanic
G. J. Pribanic
Chief Financial Officer
March 23, 1998
(Date)
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EXHIBIT INDEX
The following exhibit is filed herewith.
Exhibit No. Exhibit
99(a) Press Release.
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MAYTAG CORPORATION EXPECTS STRONG FIRST QUARTER
NEWTON, IOWA--(March 23, 1998)--Maytag Corporation announced today it
expects first quarter 1998 sales to exceed year ago first quarter sales by
as much as 25 percent. First quarter 1997 sales were $792.5 million.
"Maytag Corporation exited 1997 with strong momentum and that has
continued into the first quarter as we had expected," explained Maytag
Corporation Chairman and CEO Leonard A. Hadley. "The retail response to
the new Maytag and Hoover products introduced last year has remained
strong, and we are realizing the expected sales increase associated with
initial inventory stocking of Maytag brand appliances at Sears stores
nationwide. We also are seeing Maytag's operating margins continue to
improve from the strong levels reported in the fourth quarter, helped in
part by an exceptionally robust home appliance industry. With all of these
factors considered, we expect our results for the first quarter to be much
better than the current $.61 earnings per share consensus estimate of
financial analysts published by First Call."
Maytag is scheduled to report first quarter 1998 sales and earnings
the morning of April 23, 1998.
Maytag Corporation is a $3.4 billion home and commercial appliance
company. The corporation s home appliance brands include Maytag, Hoover,
Jenn-Air, Magic Chef, and Performa by Maytag. Commercial cooking equipment
is manufactured under the Blodgett group of companies; Dixie-Narco is the
corporation's commercial vending equipment brand name and manufacturer.
Maytag Corporation also is a joint venture partner in China with Hefei
Rongshida, one of that country's leading washing machine companies.
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Media Contacts: James G. Powell at Maytag Corporation 515-787-8392
Additional Maytag Information: http: //www.maytagcorp.com
CPI 9807<PAGE>
