Sealy Corp. (NYSE:ZZ) reported fiscal Q1 EPS of 4 cents, ex-items, beating estimates for a 3-cent loss. Revenues in the quarter fell 20.9% year-over-year to $310.0 million, but came in ahead of consensus estimates of $309.5 million. The company offered this forward-looking statement, "While we expect market conditions to remain difficult, we intend to continue to capitalize on our industry-leading position. We are taking further measures to improve our profitability through gaining market share, improving gross margins, reducing expenses, and maximizing financial flexibility. We are confident that we are well positioned with the most diversified range of product technologies and price points in the industry. Furthermore, the vertical integration of our latex and innerspring production provides Sealy with an additional advantage during these challenging economic times."

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