Mattress Firm Q2 Adj. EPS Misses Estimates, But Sales Top

(RTTNews) - Mattress Firm Holding Corp. (MFRM) reported that its net loss attributable to the company for the second fiscal quarter ended August 2, 2016 was $2.2 million or $0.06 per share, compared to net income of $21.88 million or $0.61 per share in the prior year.

Adjusted earnings per share, excluding acquisition-related costs, fixed asset impairment costs, ERP system implementation training costs and severance charges, was $0.51, compared to $0.67 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.65 per share. Analysts' estimates typically exclude special items.

Excluding the non-cash amortization of trade names, Adjusted earnings per share excluding Tradename Amortization was $0.57, compared to $0.68 per share in the previous year.

Net sales for the second fiscal quarter increased 48.2% over the prior year period to $980.0 million, reflecting incremental sales from acquired and new stores, partially offset by a comparable-store sales decline of 1.1%.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.65 per share and revenues of $973.85 million for the quarter. Analysts' estimates typically exclude special items.