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.
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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