Lexington, Kentucky - Tempur-Pedic International Inc., a manufacturer of memory-foam polyurethane-based products for the mattress and bedding industry, has reported sales up by $242-$244 million in the fourth quarter of 2009 (Q4), an increase of 28-29 percent, compared to the same period in 2008.
The Kentucky-based company expects sales for 2010 to range from $950-$970 million, based on information currently available, a 5 Jan company statement said.
"Fourth quarter sales exceeded our prior expectations in both our US and International segments, primarily due to better than expected macro environment together with success form sales and marketing programmes," said Tempur-Pedic ceo Mark Sarvary.
"In planning for 2010, we expect benefits from our productivity programmes and fixed cost leverage will be partially offset by our outlook for rising commodity prices and increased investments in marketing and R&D," said Tempr-Pedic cfo Dale Williams. "As a result we currently anticipate operating margin to expand 100 basis points or more for the full year in 2010," Williams concluded.
Tempur-Pedic will release its full Q4 financial results on 26 Jan 2010. (RD)