UPDATE: Select Comfort Posts Downbeat Q4 Profit, Issues Weak FY13 Forecast

Select Comfort

reported a 19% drop in its fourth-quarter earnings. Select Comfort projects full-year earnings of $1.65 to $1.80 per share, versus analysts' estimates of $1.90 per share. Select Comfort's quarterly profit fell to $12.5 million, or $0.22 per share, from $15.4 million, or $0.27 per share, in the year-ago period. Its revenue climbed 17% to $220.6 million. However, analysts were projecting earnings of $0.31 per share and revenue of $232.6 million. Its gross margin rose to 63.5% from 62.9%. Select Comfort shares tumbled 19.54% to $22.69 in after-hours trading.