Fisher & Paykel Appliances (ASX:FPA) has warned that higher than expected competition and continuing depressed markets in the USA is likely to force it to swing to a loss.
The company said it expects to post a net loss of $2-5 million for FY2010.
North American sales are expected to shrink to 12% lower than Fisher & Paykel expected when it released its projections on May 27.
The company now expects its pre-tax earnings to be $19 million to $24 million below the $87.7 million it had predicted.
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