Tempur-Pedic Net More Than Doubles in First Quarter
Posted on April 21, 2010 by
LEXINGTON, Ky.-First-quarter net income for Tempur-Pedic totaled $33.1 million, 149 percent ahead of its net for the first quarter of last year.
The mattress manufacturer achieved this largely on a sales increase for the quarter of 43 percent, to $253.9 million. Tempur-Pedic also boosted its gross margin by 300 basis points to 49.2 percent. These gains counteracted increases of 36.5 percent and 18.9 percent in selling expenses and general and administrative expenses, respectively.