UPDATE: Leggett & Platt Posts Higher Q4 Profit

Leggett & Platt

reported a rise in its fourth-quarter earnings. Leggett & Platt now projects full-year earnings of $1.50 to $1.75 per share, versus its earlier forecast of $1.63 to $1.70 per share. It expects sales growth of 1% to 6%. Leggett & Platt's quarterly profit surged to $73.5 million, or $0.50 per share, from $8.7 million, or $0.06 per share, in the year-ago period. Excluding one-time items, it earned $0.32 per share. Its net sales fell 0.2% to $853 million. Leggett & Platt in October expected earnings of $0.25 to $0.32 per share on sales of $830 million to $880 million. Its gross margin rose to 20.8% from 16.7%. Leggett & Platt shares fell 0.14% to $29.00 in after-hours trading.