Leggett & Platt Inc T.LEG

Primary Symbol: LEG

Consumer Cyclical

Leggett & Platt, Incorporated is a manufacturer that conceives, designs, and produces a range of engineered components and products found in many homes and automobiles. The Company’s segments include Bedding Products, Specialized Products and Furniture, Flooring & Textile Products. Bedding Products segment supplies a variety of components and machinery used by bedding manufacturers in the production and assembly of their finished products, as well as produces private label finished mattresses for bedding brands. Specialized Products segment supplies lumbar support systems, seat suspension systems, motors and actuators, and control cables used by automotive manufacturers. It also produces and distribute tubing and tube assemblies for the aerospace industry and engineered hydraulic cylinders used in the material-handling and construction industries. Furniture, Flooring & Textile Products segment supplies a range of components for residential and work furniture manufacturers.

NYSE:LEG - Post by User

Leggett & Platt Inc

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Post by retire68on Nov 18, 2012 2:55pm

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Post# 20615335

Need help understanding latest income statement

LEG sold its " SA assets" to LGX in exchange for 10 million shares (post consolidation) of LGX. I do not understand why this sale cost LEG shareholders 72% of the third quarter net income ($5,936,000 of a total net income of $8,259,000). How was this sale beneficial to LEG shareholders?

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