Reuters: Global Markets: Tempur-Pedic forecast disappoints shares dip

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Tempur-Pedic forecast disappoints shares dip Apr 19th 2012, 20:44 Thu Apr 19, 2012 4:44pm EDT (Reuters) - Tempur-Pedic International Inc (TPX.N) posted a higher-than-expected quarterly profit, but the mattress maker's 2012 forecast came in below analyst expectations, sending its shares down by as much as 11 percent in aftermarket trading. The company, which competes with Sealy Corp (ZZ.N) and Select Comfort Corp (SCSS.O), expects to earn $3.80 to $3.95 per share on revenue of $1.6 billion to $1.65 billion in 2012. Analysts, on average, were expecting earnings of $3.97 per share on revenue of $1.66 billion, according to Thomson Reuters I/B/E/S. For the first quarter, Tempur-Pedic earned $56.2 million, or 86 cents per share, compared with $48.3 million, or 68 cents per share, a year ago. Revenue rose 18 percent to $384.4 million. Analysts on an average had expected the company to earn 84 cents per share on revenue of $384.5 million for the first quarter. The Lexington, Kentucky-based company's shares were trading down 11 percent at $74.15 after the bell. They closed at $83.75 on Thursday on the New York Stock Exchange. (Reporting by Chris Jonathan Peters in Bangalore; Editing by Sreejiraj Eluvangal)

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