Select Comfort Corporation (NASDAQ:SCSS) shares have climbed this morning to $16.43 up $3.16 per share as a little over 2 million shares have been moved. While showing nearly a 24% increase volume has tripled over the average daily volume of 700,000 shares.
Select Comfort’s rise this morning is due in large part to strong 1Q results this year. Select comfort earned $16.6 million, or $.30 per share compared to $7.8 million, or $.14 per share in the same quarter last year. Revenue also rose 22% to $193.1 million. Analyst had expected much lower earnings of $.19 per share and revenue around $166.8 million.
Select comfort is now looking for 2011 yearly earnings to reach $.85-.93 per share, which is well above analyst forecast earnings.
About Select Comfort
Select Comfort Corporation develops, manufactures, markets, and distributes adjustable-firmness beds and other sleep-related accessory products in the United States, Alaska, Hawaii, Canada, and Australia. It offers its mattresses under the Sleep Number brand name.