UPDATE 1-Furniture Brands posts higher preliminary results

(Adds outlook, analyst estimate, background)

NEW YORK, April 17 (Reuters) - Furniture Brands International Inc (FBN.N) on Thursday posted a higher preliminary quarterly profit, helped by cost-cutting efforts.

The manufacturer said its preliminary first-quarter earnings from continuing operations are between 7 and 8 cents a share, up from 3 cents a share a year earlier.

The company also said quarterly sales fell 14 percent to $477 million.

Analysts, on average, were expecting Furniture Brands to earn 5 cents a share for the quarter, on $512.34 million in sales, according to Reuters Estimates.

Chief Executive Ralph Scozzafava said the company is aiming to drive profitability in 2008, while the goal for 2009 is to increase "profitable sales."

Scozzafava said the company believes earnings "will increase in later quarters," and that Furniture Brands is on track for its 2008 earnings target of $0.40 to $0.60 a share.

Looking ahead, Furniture Brands said it sees full-year sales ranging between $1.9 billion and $2.0 billion.

Wall Street analysts had forecast full-year sales of about $2.16 billion, according to Reuters Estimates.

Furniture Brands is currently embroiled in a proxy fight with private equity firm Sun Capital, which is aiming to gain three seats on the company's board.

Sun Capital, which owns a 9.5 percent stake in the furniture maker, disclosed in February it was willing to buy Furniture Brands at a "substantial premium" to the current stock price, which was then $10.18.

Furniture Brands' shares closed Thursday down 0.43 percent to $13.88 on the New York Stock Exchange. (Reporting by Justin Grant; Editing by Michael Urquhart)