Select Comfort Announces Third-Quarter Results

Select Comfort Corporation SCSS today reported third-quarter results for the period ended Oct. 2, 2010. Net sales for the quarter totaled $160 million, an increase of 9 percent on same-store growth of 16 percent, compared to $147 million in net sales in the third quarter of 2009. The company reported net income of $10.5 million, or $0.19 per diluted share in the third quarter of 2010, compared to net income of $6.9 million, or $0.15 per diluted share, during the same quarter last year. “We continue to demonstrate strong sales growth and operating margin expansion, despite an uncertain environment. And we are particularly pleased with our same-store growth as we lapped more difficult comparisons from the third quarter a year ago,” said Bill McLaughlin, president and CEO, Select Comfort Corporation. “The consistency of our results in these market conditions, as well as our strong cash position, reinforces our confidence in our ability to leverage our unique advantages, invest opportunistically and grow market share.”