Thursday, July 21, 2005

Leggett earnings slightly below expectations

Carthage-based Fortune 500 company Leggett & Platt had its best second-quarter earnings ever, but officials are not crowing about, saying they had expected more.
The company reported net earnings of $79.2 million, or 41 cents a share for the three months ending June 30, up from $76.8 million, or 39 cents a share, a year ago.
CEO Felix Wright said in a company news release that those figures were not as high as what he and other Leggett officials had anticipated.
Company officials blamed an unexpected drop in prices for some Leggett products and customers switching to cheaper brands to hold down on inflation.

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