SAN FRANCISCO (Thomson Financial) - Select Comfort Corp. late Wednesday
reported fourth-quarter net earnings of $2.17 million, or 5 cents a share, below
the 13-cent mean estimate of analysts polled by Thomson Financial.
Net income a year ago was $10.8 million, or 20 cents a share.
Revenue for the quarter ended Dec. 29 fell to $190.7 million from $198
million the year prior, compared with the mean Wall Street estimate of $195.1
million.
The company expects lower net income in 2008 than during 2007 on flat to
slightly lower year-over-year sales. It plans to open 30 new stores and close 15
stores or more. The company does not see any significant asset impairment or
lease-buyout costs associated with the store closures. Additionally, Select
Comfort plans to remodel 50 stores.
The issue's stock closed the regular session down 19 cents at $7.15 and rose
15 cents to $7.30 in after-hours trading.
Brigid Gaffikin
bg/gm
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