Furniture Brands Lowers 3Q Guidance

St. Louis, MO, September 18, 2007--Furniture Brands International lowered its third quarter outlook citing continued softening of its business and weakening of order flow.

 

The maker of furniture brands that include Broyhill, Henredon and Drexel Heritage said it expected to post a third-quarter net loss of $0.19 to $0.23 per share, with sales falling about 12%.

 

Excluding $0.22 per share in restructuring, asset impairment and severance charges, the results will range from a loss of $0.01 per share to a profit of $0.03.

 

In August, Furniture Brands had forecast a loss of $0.15 to $0.19 per share, or an adjusted profit of $0.02 to $0.06 cents, excluding items.