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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: regli who wrote (45212)	1/25/2006 9:15:57 PM
From: mishedlo	Read Replies (1) of 116555

No pricing power here: DJ Furniture Brands 4Q Net Dn 23% On Raw Materials Costs ST. LOUIS (Dow Jones)--Furniture Brands International Inc.'s (FBN) fourth-quarter profits fell 23% on higher costs for raw materials and lower volume at its Broyhill unit. The company also forecast first-quarter earnings of 43 cents to 47 cents a share, compared with 46 cents a share in the year-earlier period. In a press release Wednesday, Furniture Brands posted net earnings of $17.1 million, or 34 cents a share, down from year-earlier earnings of $22.3 million, or 42 cents a share, Results included charges of 2 cents a share for restructuring and asset impairment. Similar charges in the year-earlier period were 3 cents a share. Net sales fell 1.4% to $593.5 million, from $602 million a year earlier. First-quarter earnings will include restructuring and other charges of 2 cents a share, and the company forecast net sales growth in the low single digits. Year-earlier sales were $641.6 million. Furniture Brands closed Wednesday at $21.80, down 9 cents.

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