Lexington, Kentucky -- Bedding provider Tempur Sealy International Inc reported a meteoric boost to its net income in the third quarter of 2013. At $40.2m (Eur 29.7m), the result compares favourably to the net loss of $2.0m reported in the third quarter of 2012.
The company reported an adjusted net income of $44.9m for the third quarter of 2013 as compared to adjusted net income of $42.3m for the third quarter of 2012.
Total net sales increased 111% to $735.5m in the third quarter of 2013 from$347.9m in the third quarter of 2012. The net sales increase was due to the inclusion of$389.9m of Sealy net sales for the third quarter of 2013.
Gross profit margin was 40.6% as compared to 49.2% in the third quarter of 2012
Operating income was $81.2m as compared to$63.4m in the third quarter of 2012. Operating income in the third quarter of 2013 included $8.5m of transaction and integration costs related to the Sealy acquisition. The higher operating income reflects the inclusion of Sealy.
