SAN FRANCISCO (MarketWatch) — Leggett & Platt Inc. , hit by weaker sales, reported late Thursday second-quarter net income of $60 million, or 33 cents a share, down from $84.2 million, or 45 cents, a year ago. Revenue for the quarter ended June 30 fell 3% to $1.32 billion from $1.36 billion. Analysts polled by Thomson Financial expected the engineered parts maker to post per-share earnings of 31 cents on $1.3 billion in revenue. The company trimmed its 2007 per-share earnings outlook to $1.28 to $1.44 from $1.35 to $1.55 earlier. The revised outlook includes restructuring-related costs of 10 cents a share, twice the earlier 5-cent estimate. Leggett & Platt shares closed at $22.60 ahead of the report, a 2% gain for the day.
(Corrects earnings outlook.)
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