Leggett & Platt reports higher sales but static earnings
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Carthage, Missouri-based diversified manufacturer Leggett & Platt reported Thursday that Q1 2012 sales of $947 million were a 5.7 percent (or $51 million) increase versus the prior year. However, Q1 earnings per diluted share of $0.30 were unchanged from Q1 2011 earnings.
Leggett & Platt's Industrial Materials segment had total sales grow $27 million or 13 percent in Q1, with half of the growth attributed to the acquisition of Western Pneumatic Tube. Sales were up 6 percent ($11 million) for the company's Specialized Products division; Residential Furnishings increased sales by $33 million or 7 percent; and Commercial Fixturing Components saw sales fall $15 million or 12 percent during Q1.