Sealy 1st Quarter Sales, Income Jump

May 17, 2006  by in UnCategorized   

By Home Furnishings Business in Bedding on May 2006 Sealy Corp. reported net sales of $395.7 million for the first quarter ending February 26, an increase of 10.2 percent from $359 million for the same period a year earlier.

Gross profit was $176.7 million or 44.7 percent of sales as compared with $159.1 million or 44.3 percent of sales for the same period last year. Net income was $23 million after a $300,000 reduction due to the cumulative effect of a change in accounting. This represents an 11.3 percent increase over the $20.6 million in the same period a year ago.

“We are pleased with our first quarter results,” said David J. McIlquham, Sealy’s chairman and chief executive officer. “During the quarter we saw strong international performance, a successful launch of our new Stearns & Foster product line and the introduction of our new Posturepedic line. Strong demand for our brands, continuous focus on improving efficiencies in our facilities and the commitment of our employees continue to drive our success in the market place.”