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Mattress Firm Holding Corp. (MFRM) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, February 2, 2016

Mattress Firm Holding Corp.

CIK: 1419852 Ticker: MFRM

Exhibit 99.1

 

GRAPHIC

 

FOR IMMEDIATE RELEASE

 

MATTRESS FIRM ANNOUNCES FOURTH FISCAL QUARTER AND FULL FISCAL YEAR 2015 FINANCIAL RESULTS

 

Tenth Consecutive Quarter and Sixth Consecutive Year of Comparable-Store Sales Growth

Achieved 90 basis points of Adjusted EBITDA Margin Improvement in Q4

Q4 GAAP EPS Increased Approximately 95% to $0.37 and Adjusted EPS Increased 29% to $0.53

Provides Guidance for Q1 and Full Fiscal Year 2016

 

HOUSTON, March 21, 2016 /BUSINESSWIRE/ — Mattress Firm Holding Corp. (the “Company”) (NASDAQ: MFRM), the nation’s largest specialty mattress retailer, today announced its financial results for the fourth fiscal quarter (13 weeks) and full fiscal year (52 weeks) ended February 2, 2016.  Net sales for the fourth fiscal quarter increased 3.4% over the prior year (14 weeks) to $618.6 million, reflecting comparable-store sales growth of 0.7% and incremental sales from new and acquired stores. The Company reported fourth fiscal quarter earnings per diluted share (“EPS”) on a generally accepted accounting principles (“GAAP”) basis of $0.37, and EPS on a non-GAAP adjusted basis, excluding acquisition-related costs, fixed asset impairment costs and severance charges (“Adjusted”), of $0.53.

 

Reported sales results and expected GAAP and Adjusted EPS are preliminary and remain subject to audit and adjustment until the filing of the Company’s Annual Report on Form 10-K with the U.S. Securities and Exchange Commission.  The Company expects to report its finalized fourth fiscal quarter and full fiscal year results in early April.

 

Expected diluted EPS on a GAAP basis and Adjusted basis are reconciled in the table below:

 

Fourth Fiscal Quarter and Full Fiscal Year Reconciliation of GAAP to Adjusted EPS and Adjusted Cash EPS
See “Reconciliation of Reported (GAAP) to Adjusted Statements of Operations Data” for Notes

 

 

 

Fourteen
Weeks
Ended

 

Thirteen
Weeks
Ended

 

Fifty-Three
Weeks
Ended

 

Fifty-Two
Weeks
Ended

 

 

 

February 3, 2015

 

February 2, 2016

 

February 3, 2015

 

February 2, 2016

 

GAAP EPS

 

$

0.19

 

$

0.37

 

$

1.27

 

$

1.82

 

Adjustments

 

 

 

 

 

 

 

 

 

Acquisition-related costs (1)

 

0.16

 

0.07

 

0.52

 

0.41

 

Secondary offering costs (2)

 

0.02

 

 

0.02

 

0.01

 

ERP system implementation costs (3)

 

0.04

 

 

0.13

 

0.01

 

Impairment charges (4)

 

0.01

 

0.08

 

0.02

 

0.10

 

Other expenses (5)

 

0.00

 

0.01

 

0.06

 

0.01

 

Adjusted EPS*

 

$

0.41

 

$

0.53

 

$

2.03

 

$

2.36

 

Non-Cash Adjustments

 

 

 

 

 

 

 

 

 

Depreciation and amortization expense

 

0.26

 

0.34

 

0.82

 

1.22

 

Stock-based compensation expense

 

0.05

 

0.04

 

0.14

 

0.15

 

Adjusted Cash EPS*

 

$

0.73

 

$

0.91

 

$

2.99

 

$

3.73

 

 

 

 

* Due to rounding to the nearest cent, totals may not equal the sum of the lines in the table above.

 

5815 Gulf Freeway · Houston, TX · 77023 · Phone: 713-923-1090 · Fax: 713-923-1096

 


The following information was filed by Mattress Firm Holding Corp. (MFRM) on Monday, March 21, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Accrued Liabilities And Other Noncurrent Liabilities
Accrued Liabilities And Other Noncurrent Liabilities (details)
Accrued Liabilities And Other Noncurrent Liabilities (tables)
Acquisitions
Acquisitions (tables)
Acquisitions - 2013 (details)
Acquisitions - 2014 (details)
Acquisitions - 2015 (details)
Acquisitions - Pro Forma Information (details)
Business And Summary Of Significant Accounting Policies
Business And Summary Of Significant Accounting Policies (policies)
Business And Summary Of Significant Accounting Policies (tables)
Business And Summary Of Significant Accounting Policies - Acctgpron (details)
Business And Summary Of Significant Accounting Policies - Fair Value - Debt (details)
Business And Summary Of Significant Accounting Policies - Fair Value Impairment Testing (details)
Business And Summary Of Significant Accounting Policies - Fair Value Level 3 (details)
Business And Summary Of Significant Accounting Policies - Initial Public Offering (details)
Business And Summary Of Significant Accounting Policies - Property, Goodwill And Amortization (details)
Business And Summary Of Significant Accounting Policies - Receivables (details)
Business And Summary Of Significant Accounting Policies - Sales Returns, Warranties, And Franchise Fees (details)
Business And Summary Of Significant Accounting Policies - Segments (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Concentration Risk
Concentration Risk (details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets - Amortization Expense (details)
Goodwill And Intangible Assets - Changes In Carrying Amounts Of Amortizable Intangibles (details)
Goodwill And Intangible Assets - Changes In Carrying Amounts Of Nonamortizable Intangibles (details)
Goodwill And Intangible Assets - Components Of Intangible Assets (details)
Income Taxes
Income Taxes (acctgpron) (details)
Income Taxes (details)
Income Taxes (tables)
Notes Payable And Long-term Debt
Notes Payable And Long-term Debt (details)
Notes Payable And Long-term Debt (tables)
Notes Payable And Long-term Debt - Equipment Financing And Other Short-term Notes Payable (details)
Notes Payable And Long-term Debt - Maturities (details)
Prepaid Expenses And Other Current Assets
Prepaid Expenses And Other Current Assets (details)
Prepaid Expenses And Other Current Assets (tables)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Quarterly Results Of Operations (unaudited)
Quarterly Results Of Operations (unaudited) (details)
Quarterly Results Of Operations (unaudited) (tables)
Related Party Transactions
Related Party Transactions (details)
Retirement Plans
Retirement Plans (details)
Retirement Plans (tables)
Schedule I-condensed Financial Information Of Mattress Firm Holding Corp. (parent Company)
Schedule I-condensed Financial Information Of Mattress Firm Holding Corp. (parent Company) (balsh) (details)
Schedule I-condensed Financial Information Of Mattress Firm Holding Corp. (parent Company) (cfs) (details)
Schedule I-condensed Financial Information Of Mattress Firm Holding Corp. (parent Company) (stmtop) (details)
Schedule Ii-valuation And Qualifying Accounts
Schedule Ii-valuation And Qualifying Accounts (details)
Stock-based Compensation
Stock-based Compensation (details)
Stock-based Compensation (tables)
Stock-based Compensation - Fair Value Assumptions (details)
Stock-based Compensation - Options - Exercise Price Range (details)
Stock-based Compensation - Restricted Stock (details)
Stockholders' Equity
Stockholders' Equity (details)
Stockholders' Equity (tables)
Stockholders' Equity - Earnings Per Share (details)
Subsequent Event
Subsequent Event (details)
Supplemental Statement Of Cash Flow Information
Supplemental Statement Of Cash Flow Information (details)
Supplemental Statement Of Cash Flow Information (tables)
Ticker: MFRM
CIK: 1419852
Form Type: 10-K Annual Report
Accession Number: 0001419852-16-000017
Submitted to the SEC: Mon Apr 04 2016 3:26:56 PM EST
Accepted by the SEC: Mon Apr 04 2016
Period: Tuesday, February 2, 2016
Industry: Retail Furniture Stores

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