Mattress Firm Q3 Profit Meets Estimates; Revenue Beats

(RTTNews) - Mattress Firm Holding Corp. (MFRM) reported net income for the third quarter of $15.6 million or $0.45 per share, compared to $18.1 million or $0.53 per share for the year-ago quarter.

Excluding items, adjusted earnings for the third quarter were $0.70 per share, compared to $0.55 per share in the prior year quarter.

Net sales for the third quarter increased 42.3% to $464.28 million from $326.23 million a year ago, reflecting same-store sales growth of 8.5% and incremental sales from new and acquired stores.

Analysts polled by Thomson Reuters expected the company to earn $0.70 per share on revenue of $431.01 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to full fiscal year ending February 3, 2015, the company now expects net sales of $1.77 billion to $1.79 billion, earnings of $1.44 to $1.50 per share and adjusted earnings of $2.03 to $2.13 per share. Previously, the company forecast net sales of$1.545 billion to $1.585 billion, earnings of $1.59 to $1.65 per share and adjusted earnings of $2.03 to $2.13 per share.

Analysts currently expect the company to earn $2.10 per share on revenue of $1.67 billion for the fiscal year 2015.