Select Comfort Posts All-Time High Quarterly, Annual Sales
Select Comfort , maker of Sleep Number adjustable beds, posted a record for quarterly sales in Q4. For that period, the company took in $221 million, a 17% improvement over the same quarter in 2011.
Despite the new high, net profit slumped on a year-over-year basis, and did not meet market expectations at $12.5 million ($0.22 per diluted share). On average, analysts had been expecting a diluted EPS of $0.31.
For the full year, Select Comfort had net sales of $935 million, also a new record and a vast improvement over the $743 million of 2011. Net income was $78 million ($1.37 diluted EPS), a 26% increase on an annual basis.
The company also provided guidance for 2013. It expects annual earnings to come in at $1.65-$1.80 per diluted share, and for capital expenditures to total $70 million-$80 million. Capital expenditures for full-year 2012 were $52 million, up from $24 million in 2011.
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