reported a third-quarter earnings increase after the market close Thursday.
The Lexington, Ky.-based mattress maker reported earnings per share of 34 cents, double the 17 cents it posted in the third quarter of 2005. It generated net income of $28.9 million, up from $17.4 million a year ago. Net sales rose 17% to $240.9 million.
Analysts were expecting earnings of 32 cents a share on $239.6 million in sales.
Retail sales rose 31% domestically and 12% internationally. The company said sales in the U.S. furniture and bedding retail channel were especially strong, with an increase of 43%. Cash flow from operations increased 56% to $46.6 million from $30 million last year.
Looking forward, Tempur-Pedic confirmed it expects its full year EPS to be towards the high-end of its guidance range of $1.26 to $1.31, which represents a 30% to 35% over 2005. It expects full-year sales to fall in the lower end of its $940 million to $970 million range, representing a 12% to 16% increase over last year.Shares were up 28 cents, or 1.6%, at $18 in recent after-hours trading.