Leggett & Platt Q4 Profit Plunges; Issues FY14 Outlook - Quick Facts

(RTTNews) - Leggett & Platt Inc. (LEG) reported fourth-quarter net income attributable to the company of $5.6 million or $0.04 per share, compared to $73.5 million or $0.50 per share for the year-ago quarter.

Sales for the latest fourth quarter were $896.8 million, up 5% from $850.1 million in the prior year quarter. Same location sales were flat, with unit volume increasing 1%, but offset by reduced rod mill trade sales.

On average, analysts polled by Thomson Reuters expected the company to earn $0.34 per share on revenue of $889.78 million for the fourth quarter. Analysts' estimates typically exclude special items.

For 2014, Leggett & Platt projects earnings of $1.65 to $1.85 per share and sales of $3.85 billion to $4.05 billion. Analysts currently expect the company to earn $1.72 per share on revenue of $3.88 billion.