Home / Knowledge / News / Textiles / Leggett & Platt Industrial Materials total sales perk up
Leggett & Platt Industrial Materials total sales perk up
Jan '08
Leggett & Platt Announces 2007 Results.

•4Q loss of $1.21 per share; includes $1.44 of impairment, restructuring, and other net charges.
• Full year loss of $.06 per share; includes $1.26 of impairment, restructuring, and offsetting items.
• Record 2007 cash from operations of $614 million; increased 28% from 2006.
• Annual dividend increased to $1.00 per share; 5.5% yield backed by strong cash flow.
• 2008 EPS from continuing operations of $.95 - $1.30, including $.05 - $.10 of restructuring charges; slight sales decline

President and CEO David S. Haffner commented on 2007 results, "As anticipated, implementation of the strategic plan we announced in November resulted in a net loss for the fourth quarter. In our November and December press releases, we alerted investors to the significant non-cash charges associated with our strategic changes.

“Consistent with our forecasts, during the quarter we recorded $143 million of goodwill impairment in our Fixture & Display operations, and $132 million of asset impairments associated with businesses we intend to divest. With these charges, we have now incurred virtually all of the one-time costs associated with our strategic plan. Operationally, our ongoing businesses performed in line with the guidance we issued in December.

"During the full year 2007, many of our domestic businesses experienced weak demand, which lowered our organic sales and earnings. Even so, we generated record annual cash from operations (up 28% versus 2006), in large part due to an ongoing emphasis on working capital management. We continue to have an excellent balance sheet, and ended the year with net-debt-to-cap below our long-term target level.

Must ReadView All

Textiles | On 25th Oct 2016

Arvind to dilute 10% stake in brand business arm

Arvind Limited, one of India’s largest integrated textile and apparel ...

Courtesy: Commonwealth Bank of Australia

Textiles | On 25th Oct 2016

World’s first cotton shipment using Skuchain’s Brackets

The world’s first trade transaction involving shipment of cotton...

Textiles | On 25th Oct 2016

Cotton yield to increase to 568.29 kg/ha in 2016-17: CAB

At its first meeting for the cotton season 2016-17, the Cotton...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Rahuul Jashnani

‘Online economy has changed the whole dynamics of buying habits.’

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search