Sealy outpaces profit expectations
Shares of Sealy Corp. (NYSE:ZZ) are gaining on news after the close on Tuesday that the mattress maker beat Wall Street's expectations despite a decline in first-quarter profit. The Trinity, N.C.-based company reported that net income for the three months ended March 2 was $16.2 million, or $0.17 per share, above the $0.09 per share consensus estimate of nine analysts polled by Thomson Financial. Sealy had earnings of $24.6 million, or $0.26 per share, a year earlier.
At 12:54 p.m. ET, the stock had gained $0.39, or 5%, to $7.49. For detailed price information and recent news stories about Sealy, click ZZ.
