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
Seeking to avoid the issues arising from undelivered packages ahead of Christmas, package delivery giants UPS and FedEx have in recent days limited air express deliveries, the Wall Street Journal said on Wednesday. Hertz has announced plans to increase the retail prices for all Hertz, Dollar and Thrifty car rentals starting on January 1. In a press release from the Hertz PR team, the company says that the price hikes are largely aimed at combating the depreciation of their fleet. This sporting goods retailer's strong growth accelerated in 2013, with its eCommerce growing 65% to over $480 million. Also, the company is driven to deliver superior financial and operational results, including growing its sales to $10 billion and increasing its operating margin to 10.5% by the end of 2017.
comments powered by Disqus