Sleep Number: 4Q Earnings Snapshot
MINNEAPOLIS (AP) _ Sleep Number Corp. (SNBR) on Wednesday reported fourth-quarter earnings of $27 million.
The Minneapolis-based company said it had net income of 81 cents per share. Earnings, adjusted for non-recurring gains, came to 58 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The seller of beds, mattresses and bedding products posted revenue of $411.8 million in the period, which beat Street forecasts. Six analysts surveyed by Zacks expected $410.4 million.
For the year, the company reported profit of $69.5 million, or $1.92 per share. Revenue was reported as $1.53 billion.
Sleep Number expects full-year earnings in the range of $2.25 to $2.75 per share.
Sleep Number shares have climbed 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $35.86, a decline of 2 percent in the last 12 months.