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Leggett & Platt posts Q4 profit

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Leggett & Platt posts Q4 profit

Leggett & Platt Inc. said its normalized net income for the fourth quarter was $64.8 million.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 7.1%.

Total revenue totaled $944.6 million, and total operating expenses came to $832.1 million.

Reported net income came to $80.9 million, or 57 cents per share.

For the year, the company's normalized net income totaled $1.96 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.21.

EPS rose 56.5% from $1.25 in the prior year.

Normalized net income was $280.5 million, a rise of 56.1% from $179.7 million in the prior year.

Full-year total revenue rose on an annual basis to $3.92 billion from $3.78 billion, and total operating expenses came to $3.43 billion, compared with $3.46 billion in the year-earlier period.

The company said reported net income increased 46.1% on an annual basis to $324.4 million, or $2.27 per share, in the full year, from $222.0 million, or $1.55 per share.