For the fourth quarter ended December 31, 2016, the world’s biggest bedding marketer, Tempur Sealy International reported a turnaround in GAAP net income, which amounted to $63.4 million as against net loss of $11.3 million in the prior year’s fourth quarter. In the fourth quarter of 2015, Tempur had recorded a $60.7 million Danish tax charge.
Adjusted net income in the reporting quarter grew 6.1 per cent to $66.5 million as compared to adjusted net income of $62.7 million in the year ago quarter.For the fourth quarter ended December 31, 2016, the world's biggest bedding marketer, Tempur Sealy International reported a turnaround in GAAP net income, which amounted to $63.4 million as against net loss of $11.3 million in the prior year's fourth quarter. In the fourth quarter of 2015, Tempur had recorded a $60.7 million Danish tax charge.#
Total net sales in the quarter under review increased 0.3 per cent year on year to $769.5 million, on a constant currency basis, total net sales rose 1.7 per cent.
In the fourth quarter of 2016, gross margin rose higher at 41.5 per cent vis-à-vis 40.8 per cent in the fourth quarter of 2015. (AR)
Fibre2Fashion News Desk – India
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