MINNEAPOLIS – Select Comfort Corp. (SCSS) on Wednesday reported profit that decreased by 15 percent in its second quarter, and beat analysts' expectations.
The Minneapolis-based company said net income fell to $8.5 million, or 16 cents per share, from $9.9 million, or 18 cents per share, in the same quarter a year ago. The average estimate of analysts surveyed by Zacks Investment Research was for profit of 14 cents per share.
The seller of beds, mattresses and bedding products said revenue climbed 13 percent, to $234.8 million from $207.4 million in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $224.5 million, according to Zacks.
Select Comfort shares have decreased $2.11, or 10 percent, to $18.98 since the beginning of the year. The stock has dropped $8.02, or 30 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full SCSS report: http://www.zacks.com/registration/pfp/?ALERT=ZER_LINK&adid=ASSOCPRESS_CONTENT_ZER&d_alert=rd_final_rank&t=SCSS
Keywords:Select Comfort,Earnings Report