Select Comfort posts 4Q profit, results top Wall Street forecasts

MarketsAssociated Press

MINNEAPOLIS (AP) — Select Comfort Corp. (SCSS) on Wednesday reported fourth-quarter profit of $18.9 million.

The Minneapolis-based company said it had profit of 35 cents per share. Earnings, adjusted for non-recurring gains, were 31 cents per share.

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The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The seller of beds, mattresses and bedding products posted revenue of $322.2 million in the period, also topping Street forecasts. Analysts expected $283.9 million, according to Zacks.

For the year, the company reported profit of $68 million, or $1.25 per share. Revenue was reported as $1.16 billion.

Select Comfort expects full-year earnings to be $1.30 per share.

Select Comfort shares have increased 18 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.96, a climb of 89 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 http://www.zacks.com/ap/SCSS

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Keywords: Select Comfort, Earnings Report