Sealy 3Q Profit Rises 10 Pct Even As Sales Fall

TRINITY, N.C. (AP) — Mattress maker Sealy Corp. said Tuesday its fiscal third-quarter profit rose 10 percent even as sales fell, due to lower operating costs and year-earlier results that included higher taxes.

The stock rose in aftermarket trading.

Trinity, N.C.-based Sealy earned $12.1 million, or 5 cents per share, in the three months that ended Aug. 30. That compares with $10.9 million, or 12 cents per share, a year earlier. The number of shares in the most recent quarter was nearly triple the number a year ago.

The per-share results met a 5 cents per share forecast of analysts polled by Thomson Reuters.

Revenue fell 14 percent to $349.6 million from $405 million. Analysts had expected $335 million.

Sealy shares rose 23 cents, or 7 percent, to $3.49 in aftermarket trading after closing Tuesday at $3.46.