Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Correction: Mattress Firm Swings To Profit, Shares Up 15%

RELATED NEWS
Trade MFRM now with 

Corrects analysts earnings estimates for the full year ending January 2013 to read as $1.37 per share, instead of $0.99 per share. Also corrects, full year revenue estimates to read as 879.91 million, instead of $692.50 million. The corrected version is as under.

Mattress Firm Holding Corp. (MFRM: Quote) Tuesday reported a profit for the fourth quarter compared to a loss last year, helped mainly by higher revenues. The company also provided a financial outlook for the fiscal year 2012, expected to beat current market expectations. Following the news, the company's stock rose about 15 percent in after-market hours.

Fourth-quarter net profit was $17.4 million or $0.56 per share, compared to a net loss of $1.63 million or $0.07 per share reported in the year-earlier period. On average, six analysts polled by Thomson Reuters expected the company to earn $0.19 per share in the fourth quarter. Analysts' estimates typically exclude one-time items.

Net sales for the period increased 47.9 percent to $188.6 million from $127.5 million last year. Analysts on a consensus estimated revenues of $177.21 million.

Moving forward, the company expects earnings for the full year ending January 2013 in a range of $1.40 to $1.48 per share and revenues of $1.03 billion to $1.06 billion. Analysts currently expect earnings of $1.37 per share on revenues of $879.91 million for the fiscal year.

Mattress firm closed its Tuesday's regular trade on the Nasdaq at $37.43, down 4.69 percent. In the after-market hours, share prices rose 14.75 percent.

Register
To receive FREE breaking news email alerts for Mattress Firm Holding Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast. Micro-blogging site Twitter Inc said Tuesday after the markets closed that its second quarter loss widened from last year, hurt mainly by stock-based compensation expense, even as revenue more than doubled thanks to growth in advertising. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.