Select Comfort pumps up 4th qtr. earnings forecast

By Furniture Today Staff -- Furniture Today, January 19, 2003

Minneapolis — Management at Select Comfort expects to report pro forma earnings of 14 to 15 cents per share for the fourth quarter ended Dec. 28, up from an earlier forecast of 10 to 12 cents.

In the same quarter a year ago, the airbed manufacturer and retailer had pro forma net earnings of 2 cents per share.

Sales in the fourth quarter were up 33% from a year earlier to an estimated $92.3 million, the company said.

For the full year, Select Comfort projects pro forma earnings of 36 to 37 cents per share on sales of $335.8 million. Same-store sales were up 38% for the quarter and 27% for the full year.

The company plans to report fourth-quarter earnings Feb. 4.

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