Leggett & Platt Q3 Profit Rises - Quick Facts

(RTTNews) - Leggett & Platt Inc. (LEG) reported third-quarter net income attributable to the company of $71.3 million or $0.49 per share, compared to $65.8 million or $0.45 per share for the year-ago quarter.

Third quarter 2013 sales were $957.7 million, down 2% from $978.1 million in the third quarter of 2012. Same location sales decreased 3%, primarily due to lower store fixture unit volume. Acquisitions increased sales by 1%.

On average, analysts polled by Thomson Reuters expected the company to earn $0.44 per share on revenue of $990.20 million for the third quarter. Analysts' estimates typically exclude special items.

For 2013, Leggett & Platt now projects earnings for continuing operations of $1.50-1.55 per share. Earlier, the company expected 2013 earnings of $1.50-1.65.

The company expects earnings of $1.61 to $1.66 per share for 2013. Earlier, the company expected earnings of $1.55 to $1.70 per share.

The company now anticipates sales growth of about $3.75 billion, reflecting 1% growth. Earlier, the company anticipated sales of $3.75-3.85 billion.

Analysts currently expect the company to earn $1.57 per share on revenue of $3.78 billion.