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Leggett & Platt provides an exceptional long-term record for investors. Now beginning its fourth decade as a publicly owned company, Leggett has consistently produced strong sales, earnings per share and dividend growth. The long-term performance of Leggett stock has substantially exceeded the return on the S&P 500. The company’s strategic plan is focused on creating value for shareholders. Key facts about Leggett’s performance and strategy are summarized below. |
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Sales and Earnings Per Share Records Records set in year ended December 31, 1996 with:
- sales of $2.47 billion
- earnings per share of $1.85 before non-recurring costs
Sales and earnings per share both increased at compound annual growth rates of 14.9% for the last 10 years. Record results for the first 9 months of 1997:
- sales of $2.14 billion
- earnings per share of $1.60
Compared to 1996, sales for the first nine months of this year were up 16% and earnings per share increased 17%. |
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*Excludes merger related costs for the acquisition of Pace Holdings, Inc. (Pace) of $26.6 million pre-tax and $16.4 million after tax, or $.18 per share and an extraordinary item from the refinancing of Pace debt of $12.5 million after tax, or $.14 per share. |
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Shareholder Dividends Shareholder dividends have increased for 26 consecutive years and twice in 1997. Current quarterly rate of $.14 per share indicates annual dividend of $.56 per share. Since 1971, dividends have increased at a compound annual rate of 15.5%. Consistent cash flow and a strong financial position allow for sustained dividend growth in line with long-term growth in earnings per share. |
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Recognition of Leggett’s Leadership FORTUNE magazine ranked Leggett 48th, or in the top 11%, in the 1997 survey "America's Most Admired Companies". Financial World magazine ranked Leggett 70th in "The Best 100 Growth Companies", a study they published in 1997. Long-term Strategy Management's strategy continues to emphasize both internal growth and acquisitions that create value for Leggett shareholders.
- Internal initiatives to increase sales and efficiencies, hence earnings, emphasize marketing and investments that provide attractive returns.
- Acquisitions often add new products, technologies and markets, or expand Leggett's presence in existing markets. Acquired businesses must fit with Leggett in marketing, manufacturing technology or materials...ideally in all three.
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Shareholder Services Shareholder inquiries regarding account information should be addressed to the Registrar and Transfer Agent: ChaseMellon Shareholder Services, L.L.P. 8500 Challenger Road Ridgefield Park, NJ 07660 Phone 800/851-9677 Other inquiries, including requests for Annual and Quarterly Shareholder Reports, can be directed to Leggett & Platt's Investor Relations Department: No. 1 Leggett Road Carthage, MO 64836 417/358-8131 |
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