logo
Share SHARE
FONT-SIZE Plus   Neg

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) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
TerraForm Global, Inc., an operator of clean energy power plants, said Monday that it has signed an exclusivity agreement with Brookfield Asset Management Inc. to negotiate a potential business combination between them. Shares of TerraForm Global are gaining more than 6 percent in pre-market activity following the announcement. Fast food giant McDonald's Corp. (MCD) on Monday reported a 1 percent decline in profit for the fourth quarter from last year on lower revenues due to the impact of refranchising. However, both revenue and earnings per share beat analysts' expectations. The Oak Brook, Illinois-based hamburger chain... U.S. authorities are investigating Yahoo Inc. for not disclosing the two massive data breaches sooner to investors, the Wall Street Journal reported, citing people familiar with the matter. It is expected that such a move could help clarify the timeline for companies to reveal such hacks.
comments powered by Disqus
Follow RTT