Business

Tempur-Pedic first-quarter earnings up

Lexington-based mattress-maker Tempur-Pedic International announced first-quarter earnings this week that were improved over last year, and the company also bolstered its outlook for the year.

Tempur-Pedic earned $33.1 million, or 44 cents a share, in the quarter, up from $13.3 million, or 18 cents a share, in the first quarter of 2009. Net sales increased 43 percent to $253.9 million from $177.1 million a year ago. The company said domestic sales were up 57 percent and international sales were up 24 percent.

The highest growth came in mattresses, which saw sales increase 42 percent globally. Sales of pillows were up 33 percent globally.

The company also increased its full-year guidance, saying it expects net sales to range from $1.02 billion to $1.06 billion. That's up from previous expectations of $950 million to $970 million. It also raised guidance for earnings per share to range from $1.70 to $1.85, up from $1.40 to $1.50.

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