Across the company as a whole, unit volume increased slightly. Demand improved in certain of our markets during 2011 with automotive and office furniture leading the way. In contrast, stagnant demand negatively impacted our major residential markets. Many consumers continued to postpone spending on larger ticket items such as bedding and furniture in the phase of ongoing weak economy.On the third quarter earnings call, we stated that our view of continuing demand weakness in certain of our markets and our plan to initiate actions that would yield improved ongoing profitability. In late December, we announced further restructuring which included the closure of 4 production facilities along with other cost reductions. These activities resulted in a $0.16 per share, predominantly noncash charge to earnings during the fourth quarter. The restructuring-related activities that we initiated during 2011 in total should benefit 2012 earnings per share by approximately $0.07 to $0.10.
Leggett & Platt, Incorporated's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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