Driven by a more than 30 percent increase in sales, Lexington-based mattress-maker Tempur-Pedic International announced Tuesday its third-quarter earnings rose more than 70 percent compared with a year earlier.
The company said its sales increased 32 percent, to $295.8 million in the quarter, up from $224.1 million in the same period a year ago. An increase in the sales of mattresses drove that growth, as the product category saw jumps of 33 percent globally. Mattress sales growth was stronger in North America, where the increase was 46 percent, compared with 3 percent internationally.
Excluding the effect of currency shifts, mattress sales were up 10 percent internationally.
Sales of pillows increased 20 percent globally, with a 39 percent jump in North America and 3 percent internationally, according to a company statement. Adjusting for currency, pillow sales were up 7 percent overseas.
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The company earned $44.2 million in the quarter, well above the $25.7 million it earned a year ago. Earnings per share were 62 cents in the quarter, up from 34 cents a year ago.
"Throughout 2010 we have grown sales and profit while improving our competitive position," CEO Mark Sarvary said in a statement.