Tempur-Pedic Logs Record First-Quarter Profit and Sales
April 22, 2011,
LEXINGTON, Ky.-A powerful performance in the North American market helped propel Tempur-Pedic to record totals in net income and net sales in its fiscal first quarter.
The specialty mattress manufacturer reported a bottom-line gain of 46 percent, to $48.3 million, and growth in net sales of 28 percent, to $325.8 million, for its first quarter, which ended on March 31. That sales increase included a jump of 37 percent in sales from the North American segment. Along with the sales pickup, Tempur-Pedic's profit got a boost from an increase of 311 basis points in gross margin, which finished the quarter at 52.3 percent.
Tempur-Pedic said its expectations for 2011 as a whole call for net sales to total between $1.31 billion and $1.36 billion. If these expectations come to pass, it would mean a sales gain of from 19 percent to 24 percent.