Select Comfort Shares Deflate As Revenue Misses Wall Street Target

By Wallace WitkowskiMarketsMarketWatch Pulse

Select Comfort Corp. shares fell in the extended session Wednesday after the maker of Sleep Number beds topped Wall Street expectations on earnings but not on revenue. Select Comfort shares fell 11% to $21 after hours. The company reported second-quarter earnings of 3 cents a share on revenue of $276.9 million. Analysts surveyed by FactSet had forecast earnings of a penny a share on revenue of $283.5 million. Select Comfort reiterated its full-year earnings forecast of $1.25 to $1.45 a share, while analysts are looking for $1.27 a share. The company also said it was increasing its share buyback program by $300 million.

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