Published October 16, 2013
Specialty mattress maker Select Comfort Corp reported lower-than-expected quarterly results as customers cut back on spending in the face of growing economic uncertainty.
The company, known for its Sleep Number adjustable-firmness mattresses, said revenue rose 7 percent to $264 million.
Net income fell to $20.2 million, or 36 cents per share, from $26.2 million, or 46 cents per share, a year earlier.
Analysts on average had expected earnings of 43 cents per share on revenue of $277.5 million, according to Thomson Reuters I/B/E/S.
(Reporting by Aditi Shrivastava in Bangalore; Editing by Saumyadeb Chakrabarty)