Amadeusz Juskowiak

Ohio mattress omt may have lower 1st qtr net

Ohio Mattress Co said its first quarter ending February 28 profits may be below the 24 mln dlrs or 15 cts a share earned in the first quarter of fiscal 1986

The company said any decline would be due to expenses related to the acquisitions in the middle of the current quarter of seven licensees of Sealy Inc as well as 82 pct of the outstanding capital stock of Sealy

Because of these acquisitions it said first quarter sales will be substantially higher than last years 671 mln dlrs

Noting that it typically reports first quarter results in late march said the report is likely to be issued in early April this year

It said the delay is due to administrative considerations including conducting appraisals in connection with the acquisitions

Reuter