Mattress Firm Holding Corp. (the “Company”) (NASDAQ:MFRM) today announced its financial results for the first fiscal quarter (13 weeks) ended April 29, 2014. Net sales for the first fiscal quarter increased 20.9% to $333.5 million, reflecting comparable-store sales growth of 4.3% and incremental sales from new and acquired stores. The Company reported first fiscal quarter earnings per diluted share (“EPS”) on a generally accepted accounting principles (“GAAP”) basis of $0.22, and EPS on a non-GAAP adjusted basis, excluding ERP system implementation costs, acquisition-related costs and debt amendment costs (“Adjusted”), of $0.31. Diluted EPS on a GAAP basis and Adjusted basis are reconciled in the table below:
First Fiscal Quarter Reconciliation of GAAP to Adjusted EPS See “Reconciliation of Reported (GAAP) to Adjusted Statements of Operations Data” for Notes
|Thirteen Weeks Ended|
|April 30, 2013||April 29, 2014|
|Acquisition-related costs (1)||0.01||0.05|
|ERP system implementation costs (2)||0.02||0.02|
|Other expenses (3)||-||0.00|
* Due to rounding to the nearest cent, totals may not equal the sum of the lines in the table above.