Reuters: Global Markets: Select Comfort second-quarter beats on higher pricing, shares rise

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Select Comfort second-quarter beats on higher pricing, shares rise Jul 18th 2012, 20:50 Wed Jul 18, 2012 4:50pm EDT (Reuters) - Mattress maker Select Comfort Corp (SCSS.O) reported a higher-than-expected quarterly results, as higher pricing boosted margins, and raised its 2012 profit outlook, sending the company's shares up 18 percent in after-hours trading. Select Comfort forecast adjusted 2012 earnings of between $1.41 and $1.47 per share. Analysts' were expecting $1.44 per share, according to Thomson Reuters I/B/E/S. Net income for the second quarter was $17 million, or 30 cents per share, compared with $11.3 million, or 20 cents per share, a year earlier. Sales rose 27 percent to $205.2 million. Analysts on average had expected earnings of 27 cents a share on revenue of $198.3 million. The company, known for its Sleep Number line of adjustable-firmness mattresses, has been increasing its store count and ramping up promotions to gain share from rivals such as Tempur-Pedic International Inc (TPX.N) and Sealy Corp (ZZ.N). Select Comfort's shares were up about 18 percent in after-market trading. They had closed at $21.77 on Wednesday on the Nasdaq.

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