Furniture Brands Post Loss in Third Quarter

St. Louis, MO, November 1, 2007--Furniture maker Furniture Brands International said Wednesday it swung to a third-quarter loss, hurt by the sagging home-furnishings market and uncertain retail environment.

The quarterly loss fell to $13.7 million, or $.28 per share, from a profit of $5.8 million, or $.12 per share in the prior-year period. Excluding one-time items such as restructuring, severance, asset impairment and other charges, net income was $.02 cents per share, versus $.20 per share a year earlier.

Revenue fell 9% to $516.4 million from $568.9 million in the third quarter last year.

Analysts polled by Thomson Financial forecast a profit of a penny per share on revenue of $500.8 million.

The company said it expects a charge in the fourth-quarter between $.18 and $.22 per share related to retail store closings.