Select Comfort (NASDAQ:SCSS), maker of Sleep Number adjustable beds, posted a record for quarterly sales in Q4. For that period, the company took in $221 million, a 17% improvement over the same quarter in 2011.
Despite the new high, net profit slumped on a year-over-year basis, and did not meet market expectations at $12.5 million ($0.22 per diluted share). On average, analysts had been expecting a diluted EPS of $0.31.
For the full year, Select Comfort had net sales of $935 million, also a new record and a vast improvement over the $743 million of 2011. Net income was $78 million ($1.37 diluted EPS), a 26% increase on an annual basis.
The company also provided guidance for 2013. It expects annual earnings to come in at $1.65-$1.80 per diluted share, and for capital expenditures to total $70 million-$80 million. Capital expenditures for full-year 2012 were $52 million, up from $24 million in 2011.
Fool contributor Eric Volkman has no position in Select Comfort. The Motley Fool has no position in Select Comfort. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.