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Select Comfort continues to demonstrate strong sales growth
21 Oct '10
4 min read
The third quarter of 2009 included a valuation allowance adjustment for income taxes and a one-time charge for terminated financing charges. Adjusting for these items, net income would have been $0.18 per share. A reconciliation of these items is provided at the end of this news release.
Fiscal 2010 Outlook
Based on third-quarter performance, the company has increased its previous guidance and now expects to report full-year 2010 earnings per share of between $0.52 and $0.55. The company's fourth-quarter outlook anticipates year-over-year profit improvement and positive same-store growth, although at a slower pace, as year-over-year comparisons now are more difficult and the company's outlook for the macro-environment anticipates slow growth and continued volatility.
The company concluded the third quarter of 2010 with 392 stores and expects to end fiscal 2010 with a comparable number of stores after netting planned store openings and closings. The company anticipates 2010 capital expenditures of approximately $8 million.
Fiscal 2010 Outlook
Based on third-quarter performance, the company has increased its previous guidance and now expects to report full-year 2010 earnings per share of between $0.52 and $0.55. The company's fourth-quarter outlook anticipates year-over-year profit improvement and positive same-store growth, although at a slower pace, as year-over-year comparisons now are more difficult and the company's outlook for the macro-environment anticipates slow growth and continued volatility.
The company concluded the third quarter of 2010 with 392 stores and expects to end fiscal 2010 with a comparable number of stores after netting planned store openings and closings. The company anticipates 2010 capital expenditures of approximately $8 million.
Select Comfort Corporation
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