Carthage, Missouri, US-based Leggett & Platt (Leggett), a leading producer of drawn steel wire and bed springs in addition to other manufacturing areas, has announced financial results for Q4 of 2009 and for the whole year.
On January 28, Leggett reported a Q4 net profit of $35.2 million compared to loss of $18 million for the same period of 2008, while its Q4 sales revenue reached $770 million, 13 percent lower than $883 million in the same quarter of the previous year.
Net profit from operations was $111.8 million for the full year compared to $104.4 million in 2008. In 2009 sales revenue was $3.06 billion, 25 percent lower than 2008 when it was $4.07 billion.
Earnings improved, despite lower sales, as a result of cost reduction efforts, pricing discipline, the company statement said. The company's 2010 sales income prediction is $2.9-3.3 billion.