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LEGGETT & PLATT REPORTS RECORD THIRD QUARTER AND NINE MONTH RESULTS

 CARTHAGE, Mo., Oct. 28 /PRNewswire/ -- Leggett & Platt, Incorporated (NYSE: LEG), today reported record net earnings of $.54 per share for this year's third quarter. Net sales for the quarter were a record $395.4 million. Compared with the third quarter of 1992, which has been restated for pooling of interests accounting, earnings per share increased 15 percent and sales increased 16 percent. Excluding acquisitions accounted for as purchases, sales increased approximately 9 percent.
 Results for the first nine months of 1993 also increased to record levels. Net earnings were $1.53 per share (up 23 percent) and net sales were $1.13 billion (up 15 percent) --- both compared with restated results for the first nine months of 1992. Excluding acquisitions accounted for as purchases, sales for the nine months increased approximately 11 percent.
 Three previously announced acquisitions were completed during the third quarter and enhanced 1993 earnings by $.01 per share. As anticipated, these acquisitions will only slightly enhance earnings this year, due to one time charges associated with the transactions. In the third quarter, earnings were reduced by $.03 per share because of these kinds of charges. In 1994, the three acquisitions are projected to enhance annual earnings by $.15 to $.20 per share.
 Corporate federal income tax rates were increased from 34 percent to 35 percent in the third quarter, retroactive to Jan. 1, 1993. An additional one time charge for the increase in income tax rates reduced Leggett's third quarter earnings by $.02 per share.
 Comparative summaries of the unaudited results of operations for the third quarter and nine months ended Sept. 30, 1993 and 1992, are listed below.
 LEGGETT & PLATT
 (All amounts in thousands, except per share data)
 Quarter Ended Sept. 30, 1993 1992(A) Change
 Net Sales $395,449 $340,559 +16 pct.
 Pre-Tax Earnings 37,123 30,579 +21
 Net Earnings 22,304 18,767 +19
 Earnings Per Share $.54 $.47 +15
 Average Shares and Share Equivalents 41,223 40,338
 (A) Previously reported periods have been restated to reflect a September 1993 pooling of interests acquisition.
 Nine Months Ended Sept. 30, 1993(A) 1992(A) Change
 Net Sales $1,130,106 $981,177 +15 Pct.
 Pre-Tax Earnings 103,584 78,850 +31
 Net Earnings 62,885 48,815 +29
 Earnings Per Share $1.53 $1.24 +23
 Average Shares And Share Equivalents 41,086 39,415
 (A) Previously reported periods have been restated to reflect a September 1993 pooling of interests acquisition.
 The unaudited results of operations for the trailing 12 months through Sept. 30, 1993 were at the following record levels.
 Net Sales (Millions) $1,464.0
 Net Earnings (Millions) $ 79.4
 Earnings Per Share $ 1.94
 Leggett & Platt is a FORTUNE 500 and New York Stock Exchange- listed company headquartered in Carthage. It specializes in manufacturing and marketing a broad line of components for home, office and institutional furniture and bedding. Select lines of sleep-related furniture and carpet cushioning materials are also produced and sold in the furnishings industry. In addition, Leggett makes a variety of diversified, non-furnishings products it sells in many different markets.
 -0- 10/28/93
 /CONTACT: J. Richard Calhoon, vice president-investor relations, Leggett & Platt, 417-358-8131/
 (LEG)


CO: Leggett & Platt, Incorporated ST: Missouri IN: HOU SU: ERN

TW-TA -- NY032 -- 7833 10/28/93 11:09 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
Words:548
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