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Select Comfort beats Street 1Q forecasts

MINNEAPOLIS (AP) _ Select Comfort Corp. (SCSS) on Wednesday reported first-quarter net income of $24.5 million.

On a per-share basis, the Minneapolis-based company said it had net income of 56 cents.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.

The seller of beds, mattresses and bedding products posted revenue of $393.9 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $370.2 million.

Select Comfort expects full-year earnings to be $1.25 to $1.50 per share.

Select Comfort shares have increased 14 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.78, a rise of 27 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SCSS at https://www.zacks.com/ap/SCSS

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Keywords: Select Comfort, Earnings Report