What: Shares of Select Comfort Corporation (NASDAQ:SNBR), a Minneapolis-based company that designs, manufactures, and markets a line of mattresses, are getting completely crushed today after releasing fourth-quarter results after the market close on Thursday. It's only adding to a very painful trailing12 months for investors.

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So what: During the fourth quarter, Select Comfort posted a net sales decrease of 33% to $215 million, with comparable sales down 30%, compared to the prior year's fourth quarter. That revenue result was far below FactSet analysts' estimates of $289 million, though part of that shortfall was a result of a sales disruption from implementing the new Enterprise Resource Planning (ERP) system.

"The transition from our 20-year-old legacy systems to a fully integrated ERP platform has been more challenging with far greater customer and financial impacts than we anticipated. Many of our customers endured delays and delivery reschedules as we ramped up the new system. These results are not acceptable to us," said Shelly Ibach, president and chief executive officer of Select Comfort, in a press release. "We have made major progress resolving technical and operational issues."

Select Comfort posted a fourth-quarter net loss of $0.42 per share -- with the ERP system disruption negatively impacting the results by $0.43 per share -- which was far below analysts' estimates of a $0.05-per-share loss. 

Now what: The rough fourth-quarter results weren't the only factor sending shares plunging, either. Looking forward, Select Comfort forecasts its 2016 full-year earnings per share to check in between $1.25 to $1.45, which was below expectations of about $1.57 per share. It was definitely a rough quarter and full year for the company. It's going to be a long trek for Select Comfort to reach its goal of $2.75 earnings per share by 2019.

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