-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P0pNlzUY2+sX6KL/ynS6kDW9fKjmGVw19jIFfCr9icDI0cfzE9pZ4Dd4f1F4iGvX Ds57K2deBuKhpkrgNgPgLw== 0001193125-03-010562.txt : 20030617 0001193125-03-010562.hdr.sgml : 20030617 20030617171920 ACCESSION NUMBER: 0001193125-03-010562 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030617 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030617 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LEGGETT & PLATT INC CENTRAL INDEX KEY: 0000058492 STANDARD INDUSTRIAL CLASSIFICATION: HOUSEHOLD FURNITURE [2510] IRS NUMBER: 440324630 STATE OF INCORPORATION: MO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07845 FILM NUMBER: 03747756 BUSINESS ADDRESS: STREET 1: NO. 1 LEGGETT ROAD CITY: CARTHAGE STATE: MO ZIP: 64836 BUSINESS PHONE: (417) 358-8131 MAIL ADDRESS: STREET 1: NO. 1 LEGGETT ROAD CITY: CARTHAGE STATE: MO ZIP: 64836 8-K 1 d8k.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) June 17, 2003 ------------------------------ LEGGETT & PLATT, INCORPORATED - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Missouri 1-7845 44-0324630 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) No. 1 Leggett Road, Carthage, MO 64836 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code 417-358-8131 -------------------------- N/A - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Item 9. Regulation FD Disclosure. On June 17, 2003, Leggett & Platt, Incorporated issued a press release announcing revised earnings guidance for the second quarter and full year of 2003. The press release is attached as Exhibit 99.1 and is incorporated herein by reference. On June 18, 2003, the company will hold an investor conference call to discuss the press release. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LEGGETT & PLATT, INCORPORATED Date: June 17, 2003 By: /s/ Ernest C. Jett -------------------------------------- Ernest C. Jett Vice President, General Counsel and Secretary INDEX TO EXHIBITS Exhibit No. Description - ----------- ----------- 99.1 Press Release dated June 17, 2003 EX-99.1 3 dex991.txt PRESS RELEASE DATED JUNE 17, 2003 EXHIBIT 99.1 FOR IMMEDIATE RELEASE: JUNE 17, 2003 LOWER SALES IMPACT LEGGETT'S EARNINGS Carthage, MO, June 17, 2003 . 2Q sales expected to be below prior guidance. . Energy costs continue to impact earnings. . 2Q EPS guidance reduced to range of 22-25 cents. . Full year organic sales growth expectation now -2% to +2%. . Full year EPS guidance reduced to $1.05-$1.20. 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% 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. Despite market share gains, continued weakness in many end markets are leading to a second quarter sales decline. Through the first 10 weeks of the quarter the company's consolidated same location sales were down 7%, with segment sales trends as follows: down 6% in Residential Furnishings; down 10% in Commercial Fixturing and Components; down 9% in Aluminum Products; down 17% in Industrial Materials; and up 3% in Specialized Products. Market demand, and its impact on sales revenue, remains the biggest single lever affecting Leggett's earnings. With this preliminary look at second quarter demand, the company is updating its full year sales guidance to a range of negative 2% growth to positive 2% (previous guidance was flat to up 4%). This sales range yields earnings guidance of $1.05-$1.20 per share for the full year (previously $1.15-$1.30). Management will discuss these events in a conference call at 8:00 a.m. Central (9am Eastern) on Wednesday, June 18. The webcast can be accessed (live or replay) from the Investor Relations section of Leggett's website at www.leggett.com. The dial-in number is (303) 262-2140; there is no password. Second quarter results will be released July 16, with a conference call on July 17. COMPANY DESCRIPTION: Leggett & Platt (NYSE: LEG) is a Fortune 500 diversified manufacturer that conceives, designs and produces a broad variety of engineered components and products for customers worldwide. The company is composed of 29 business units, 31,000 employee-partners, and more than 300 facilities located in 18 countries. Leggett believes it has the best Fortune 500 dividend growth record (32 consecutive annual increases at 15% CAGR). The company has grown sales and earnings at a 15% annual average since going public in 1967, consistently posts top quartile performance among the Fortune 500, and sets a high standard for financial transparency and quality of earnings. Leggett & Platt is North America's leading independent manufacturer of the following: a) retail store fixtures and point of purchase displays; b) components for residential furniture and bedding; c) components for office furniture; d) non-automotive aluminum die castings; e) drawn steel wire; f) automotive seat support and lumbar systems; and g) bedding industry machinery for wire forming, sewing and quilting. Primary raw materials include steel and aluminum. Main operations include metal stamping, forming, casting, machining, coating, welding, wire drawing, and assembly. SAFE HARBOR: This news release includes "forward-looking" statements that involve uncertainties and risks. Actual results could differ materially from the company's expectations, and the company undertakes no obligation to update or revise these forward-looking statements. Factors that could cause such differences include the company's ability to improve operations and realize cost savings, competitive and general economic conditions, future growth of acquired companies, and other risks described in the company's Annual Report or Form 10-K. CONTACT: Investor Relations, (417) 358-8131 or invest@leggett.com David M. DeSonier, Vice President, or Susan R. McCoy, Director FOR MORE INFORMATION: Visit Leggett's website at www.leggett.com. -----END PRIVACY-ENHANCED MESSAGE-----