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Select Comfort misses Street 4Q forecasts

MINNEAPOLIS (AP) _ Select Comfort Corp. (SCSS) on Wednesday reported fourth-quarter net income of $11.3 million, after reporting a loss in the same period a year earlier.

The Minneapolis-based company said it had net income of 25 cents per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The seller of beds, mattresses and bedding products posted revenue of $313.4 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $313.5 million.

For the year, the company reported profit of $51.4 million, or $1.10 per share. Revenue was reported as $1.31 billion.

Select Comfort expects full-year earnings to be $1.20 to $1.40 per share.

Select Comfort shares have decreased 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.77, a decline of 4 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