Leggett & Platt Net Jumps 177 Percent in Second Quarter

CARTHAGE, Mo.--Second-quarter net income for Leggett & Platt totaled $52.7 million, up an impressive 177 percent over the second quarter of 2009.

Healthy sales growth and expense controls produced the strong result. Leggett & Platt's net sales rose 15 percent to $874.3 million, and selling, general and administrative expenses were flat compared with a year ago. Gross margin increased 112 basis points to 20.5 percent.

David S. Haffner, the company's president and chief executive officer, said the second-quarter results have improved the outlook for all of 2010. "We acknowledge the recent weakness in both investor and consumer sentiment, but remain guarded optimistic," Haffner said.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

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