Select Comfort tops 1Q earnings and revenue expectations

MarketsAssociated Press

Select Comfort Corp. (SCSS) on Wednesday reported first-quarter earnings of $28.8 million.

The Minneapolis-based company said it had profit of 54 cents per share.

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The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The seller of beds, mattresses and bedding products posted revenue of $349.8 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $336.1 million.

Select Comfort expects full-year earnings to be $1.35 per share.

Select Comfort shares have climbed 26 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $34.12, a rise of 77 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