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Sealy Reports 11.8 Percent Sales Growth
By Home Furnishings Business in on February 2006
Sealy Mattress Corp. has reported net sales of $364.6 million for the fourth quarter ended Nov. 27, an increase of 13.2 percent over $322 million for the same period last year.
Net income for the quarter was $16.6 million compared to $12.2 million during the same quarter last year.
For the year, Sealy reported net sales of $1,469.6 million, an increase of $155.6 million or 11.8 percent from $1,314.0 million in fiscal 2004. Annual net income was $73.7 million or 5 percent of sales, as compared to a net loss of $38.3 million a year earlier.
The 2004 net loss included a pretax charge of $133.1 million for recapitalization expenses.
"We are pleased with our 2005 results," said David J. McIlquham, Sealy's chairman and chief executive officer. "During the year, Sealy generated record sales levels as a result of continued strong consumer demand for our brands worldwide and new product introductions. That strong demand combined with our continuing focus on improving efficiencies in our facilities and our ongoing focus on working capital improvements allowed us to reduce our debt."