Mattress Firm Holding Corp. (MFRM) reported net income for the fourth quarter of $7.6 million or $0.22 per share, compared to $17.4 million or $0.56 per share for the year-ago quarter.
Excluding acquisition-related costs and impairment charges and other costs, adjusted net income for the latest quarter was $10.0 million or $0.30 per share.
Net sales for the fourth quarter increased 37% to $258.25 million from $188.56 million a year ago, reflecting incremental sales from new and acquired stores, offset by a same-store sales decline of 1.6%.
Analysts polled by Thomson Reuters expected the company to earn $0.32 per share on revenue of $261.54 million for the fourth quarter. Analysts' estimates typically exclude special items.
Looking forward to fiscal year 2013, the comp[any forecast net sales of $1.237 billion to $1.250 billion, earnings of $1.81 to $1.89 per share and adjusted earnings of $1.90 to $1.98 per share. Analysts expect the company to earn $1.99 per share on revenue of $1.21 billion for the fiscal year 2013.
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