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SMALL BUSINESS
Tempur-Pedic lifts 2009 profit, sales forecast
AP
LEXINGTON, Ky. -Mattress maker Tempur-Pedic International Inc. on Thursday lifted its full-year earnings and sales outlook after posting a rise in third-quarter profit, due to higher prices and lower commodity costs.
The company anticipates full-year profit between $1 and $1.05 per share, up from a prior estimate for net income between 70 cents and 90 cents per share.
The company expects revenue between $790 million and $805 million, up from prior guidance between revenue of $700 million and $740 million.
Analysts polled by Thomson Reuters, whose estimates normally exclude one-time items, predict 2009 earnings of 87 cents per share on sales of $738.4 million.
Shares of the company rose 10 cents to close at $20.71 before the earnings and outlook were released.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-15 16:49:28
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