Mattress Firm Plunges on Q1 Results, Guidance
Mattress Firm (NASDAQ: MFRM) released its fiscal first-quarter earnings results on Tuesday after the closing bell. The company reported adjusted net income of $10.5 million or $0.31 per share, which came in ahead of consensus EPS estimates of $0.25.
Net sales in the quarter were up 38.1% to $209.81 million from $151.92 million last year. This came up short of analysts' consensus revenue estimates of $210.76 million.
Same-store sales at the company were up by 16.1%.
Looking ahead to Q2, the company sees sales between $270 million to $275 million and EPS of $0.26 to $0.29. This compares to analysts' expectations for the second-quarter of EPS of $0.27 on revenue of $277.80 million.
Mattress Firm also raised its fiscal 2012 earnings outlook to a range of $1.46 to $1.50 from its previous outlook of $1.40 to $1.48. The company continues to expect sales between $1.03 billion to $1.06 billion.
Wall Street analysts anticipate that MFRM will report EPS of $1.50 on revenue of $1.05 billion for fiscal 2012.
In Tuesday's after hours trading session, MFRM shares have lost almost 12% to $31.12.
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