Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

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
Colorado based doctor Dilip Joseph, who was kidnapped by the Taliban discusses his ordeal in detail in a book published by Amazon on Tuesday. Extending the rebound seen over the course of the previous session, stocks moved sharply higher during trading on Friday. The gains on the day partly offset the recent sell-off on Wall Street, although the major averages remain well off their mid-September highs. While the Ebola outbreak in the U.S. has thus far been limited to just three people, the results of a new CBS News poll suggest that news of the disease has contributed to a sharp drop in public confidence in the Centers for Disease Control and Prevention.
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.