Diversified manufacturer Leggett & Platt (LEG: Quote) Thursday said it expects a fourth-quarter non-cash tax benefit of about $27 million or $0.18 per share, primarily related to the elimination of a valuation allowance on the company’s Canadian deferred tax assets.
Excluding the gain, the company continues to anticipate full-year 2012 earnings of $1.45 – 1.52 per share. The tax benefit is expected to increase earnings per share by about $0.18. For the the full year 2012, earnings is now expected to be in the range of $1.63 – 1.70 per share.
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by RTT Staff Writer
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