Wednesday, April 16, 2008

First quarter sales down at Leggett & Platt

First quarter sales were down for Carthage-based Fortune 500 company Leggett & Platt, according to a report filed today with the Securities and Exchange Commission.
Despite the decrease, the company still recorded $1 billion in sales, according to the report:

President and CEO David S. Haffner remarked, “We made good progress during the quarter on several fronts. The divestitures we announced last fall are progressing well. We are in discussions with numerous potential buyers, both financial and strategic. Investment bankers are assisting with the sale of the Aluminum Products segment and four of the other business units. We continue to believe that the divestitures will occur during 2008, with proceeds in line with our original expectations. Given the market’s interest in small-to-mid size transactions, and the tangible assets associated with these operations, we believe our expectations are reasonable.

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