Trinity, North Carolina -- Sealy Corp., a leading global bedding manufacturer, reported a 9.7-percent increase in second quarter earnings (adjusted EBITDA) of $36 million on sales of $312.0 million, a 2.9 percent decrease compared to Q2 2011.
Gross profit in the second quarter increased by $1.9 million to $127.0 million compared to the second quarter of fiscal 2011, while gross margin to 40.7%. Income from operations increased by $3.7 million to $26.0 million compared to the second quarter of fiscal 2011.
Sealy, which recently acquired a non-controlling interest in Comfort Revolution, a developer of high-end sleep products, said that US sales decreased 5.2 percent to $240.2 million in the second quarter of fiscal 2011.
International sales increased $4 million, or 5.9 percent, from the second quarter of fiscal 2011 to $71.8 million. This increase was primarily due to increased sales in Canada coupled with stronger sales performance in Argentina, the polyurethane bedding products maker said in a 26 June news release.
Sealy also noted that during the fourth quarter of 2010, the company divested the assets of its manufacturing operations in France and Italy, which represented all of the assets in its Europe segment. In addition, the company discontinued manufacturing operations in Brazil.