Mattress Firm Misses Q4 Estimates; Provides Weak Full-Year Guidance
Mattress Firm (NASDAQ: MFRM) released its fiscal fourth-quarter earnings results after the closing bell on Tuesday.
In after-hours trading, the stock was last up a little better than one percent despite a weak report.
The company reported net income of $7.6 million or $0.22 per share, compared to $17.4 million or $0.56 per share, in last year's corresponding period.
On an adjusted basis, net income in Q4 was $10.0 million or $0.30 per share. This missed Wall Street consensus EPS estimates of $0.32.
Net sales in the quarter were up 37 percent to $258.25 million from $188.56 million. The big jump in revenue was the result of new and acquired stores. Same-store sales fell 1.6 percent in the quarter. Heading into the report, Wall Street analysts had consensus revenue estimates of $261.54 million.
Looking ahead to the fiscal year, Mattress Firm guided for net sales of $1.237 billion to $1.250 billion on adjusted earnings per share of $1.90 to $1.98. This compares to current consensus of $1.99 per share on revenue of $1.21 billion.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.