Select Comfort Q3 Profit Declines On Expenses; Cuts Full Year EPS Outlook

(RTTNews) - Select Comfort Corp. (SCSS) reported that its third-quarter net income decreased to $20.26 million or $0.36 per share, from $26.21 million or $0.46 per share, last year.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.43 for the quarter. Analytsts' estimates typically exclude special items.

Net sales rose to $263.69 million, from $246.82 million prior year. Company-controlled comparable sales declined 1% year-over-year. Analysts expected revenue of $277.47 million for the quarter. Total operating expenses were $135.72 million, compared to $120.50 million prior year.

The company updated its outlook for full-year 2013 GAAP earnings per share to between $1.14 and $1.22, from between $1.30 and $1.45. The company's updated guidance includes fourth-quarter earnings per share guidance range of $0.18 to $0.26.

Analysts expect the company to report full year profit per share of $1.33, and fourth-quarter earnings per share of $0.32.