Naples, FL 4/20/2012 (StreetBeat) -- Mattress maker Tempur-Pedic (TPX) yesterday after the close reported Q1 EPS of 86c, compared with analysts' consensus estimate of 84c. However, the company's revenue was slightly lower than expected. Moreover, the mattress maker provided FY12 EPS guidance of $3.80-$3.95, versus the consensus estimate of $3.97.The company's full-year revenue estimate was also lower than expected. On a positive note, Tempur-Pedic said that its advertising which ramped up in Q1 has been yielding positive results, especially in international markets. Further, the company said it was pleased with the initial performance of its new Simplicity mattress.
In a note to investors today, Oppenheimer recommended buying Tempur-Pedic's stock on weakness. The firm still expects the company to benefit from the ongoing transition to specialty bedding technologies. In mid-morning trading, Tempur-Pedic sank $18.52, or 22.11%, to $65.23. Select Comfort (SCSS), a bed manufacturer, also fell significantly.
StreetBeat Disclaimer
No comments:
Post a Comment