Fortune 500 diversified manufacturer Leggett & Platt announced that lower sales are expected to impact second quarter earnings. Previous guidance of 27 to 32 cents per share anticipated sales declines of 1 to 6 percent compared to a strong second quarter of 2002. Sales for the quarter are now expected to be below that range, and should lower earnings by at least a penny versus last
guidance.
In addition, continued higher energy costs are expected to reduce earnings by about a penny, and several smaller factors are also expected to lower earnings.