Leggett & Platt Lowers Guidance

Carthage, MO, July 20, 2007--Leggett & Platt lowered its full-year profit forecast, as it spends more on restructuring.

For the full year the diversified manufacturer forecast earnings per share of $1.28 to $1.44, including restructuring charges of 10 cents per share. The company previously had forecast earnings per share of $1.35 to $1.55, including 5 cents per share of restructuring costs.

Wall Street, on average, expects annual earnings of $1.36 per share, according to a Thomson Financial survey.

The company estimated full-year sales from continuing operations of $5.2 billion, matching analysts' estimates.

For the third quarter, Leggett & Platt forecast earnings per share of 32 cents to 40 cents and said it expects revenue in the period to fall 2% to about $1.34 billion.

Analysts, on average, expect third-quarter earnings of 36 cents per share on $1.34 billion in revenue, according to a Thomson Financial survey.