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Bear Of The Day: Leggett & Platt, Inc. (LEG)
Leggett & Platt, Inc.’s (NYSE:LEG) fourth-quarter 2011 earnings of $0.22 per share were up from the prior-period level, but we believe it was inorganic growth primarily spurred by the company’s share buyback program. Moreover, during the quarter, Leggett’s gross margin contracted 90 basis points to 16.7% due to higher input costs. Further, the company’s operating [...]
Leggett & Platt, Inc.’s (NYSE:LEG) fourth-quarter 2011 earnings of $0.22 per share were up from the prior-period level, but we believe it was inorganic growth primarily spurred by the company’s share buyback program. Moreover, during the quarter, Leggett’s gross margin contracted 90 basis points to 16.7% due to higher input costs.
Further, the company’s operating margin shriveled 470 basis points to 1.5% due to increased selling and administrative expenses. we believe that intense competition … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
