Select Comfort (SCSS) Stock gets Crushed, Misses on Q4 Earnings
Select Comfort SCSS just released their fourth quarter fiscal 2015 earnings results, posting earnings of $0.01 per share (after excluding $0.43 for nonrecurring items) and revenue of $214.7 million.
Currently, SCSS has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company's latest earnings report. Here are 5 key statistics from this just announced report below.
Beat earnings estimates. The company posted $0.01 per share , surpassing our Zacks Consensus Estimate of $-0.05.
Missed revenue estimates. The company saw revenue figures of $214.7 million , missing our estimate of $289 million.
Adjusted EBITDA was -$15.4 million, compared to $40.8 million the same quarter last year.
"Many of our customers endured delays and delivery reschedules as we ramped up the new system. These results are not acceptable to us"-CEO Shelly Ibach.
SCSS was down $3.62, or 17.65%, to $16.89 as of 5:05 PM ET in after hours trading shortly after its earnings report was released.
Here's a graph that looks at Select Comfort's quarterly revenues growth.
Select Comfort is engaged in the manufacture, specialty retailing, and direct marketing of premium quality, innovative adjustable-firmness beds and other sleep-related products. Its signature is the Sleep Number bed. Select Comfort was founded in 1987 and is headquartered in Plymouth, Minnesota.
Check back later for our full analysis onSelect Comfort'sfourth quarter earnings report!