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Tempur-Pedic 4Q sales soar

By Furniture Today Staff -- Furniture Today, January 11, 2010

LEXINGTON, Ky. — Bedding major Tempur-Pedic said it expects sales for the last quarter of 2009 to be 28% to 29% above the fourth quarter of 2008.

The unexpected jump in sales was attributed to successful sales and marketing programs, as well as a better-than-expected economic environment.

“Fourth-quarter sales exceeded our prior expectations in both our U.S. and international segments,” said Mark Sarvary, CEO.

In the fourth quarter of 2008, sales were down 34.5% from the same period in 2007.

Sales for the 2009 period are expected to be $242 million to $244 million, while earnings are projected at 35 cents to 37 cents per share. In the fourth quarter of 2008, earnings were 1 cent per share, a figure that included a one-time tax provision for repatriation of foreign earnings.

For 2010, Tempur-Pedic is projecting full-year earnings of $1.40 to $1.50 per share.

The company will release a complete fourth-quarter earnings statement on Jan. 26.

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Tempur-Pedic sales soar in fourth quarter

Jan 6, 2010

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