Reuters: Hot Stocks: UPDATE 1-Mattress Firm sales misses estimates; shares slump

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UPDATE 1-Mattress Firm sales misses estimates; shares slump Jun 5th 2012, 20:57 Tue Jun 5, 2012 4:57pm EDT June 5 (Reuters) - Specialty bedding retailer Mattress Firm Holding Corp's quarterly sales missed analysts' expectations and the company also forecast weak second-quarter sales, sending its shares down 12 percent after the bell. The company said it expects sales between $270 million and $275 million for the current quarter. Analysts on average were expecting sales of $278.3 million, according to Thomson Reuters I/B/E/S. First-quarter net income rose to $9.7 million, or 29 cents per share, from $1 million, or 5 cents per share, last year. Excluding items, the company earned 31 cents per share. Net sales rose 38 percent to $209.8 million. Analysts had expected the company to earn 25 cents per share on revenue of $211.6 million for the quarter. Shares of the company fell to $31.00 after the bell. They had closed at $35.30 on the Nasdaq on Tuesday.

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