Select Comfort shares drop 20% on quarterly results, outlook

Select Comfort Corp. shares dropped in the extended session after the maker of Sleep Number beds reported a wider-than-expected loss for the quarter and forecast earnings below Wall Street estimates. Select Comfort shares fell 20% to $16.50. The company reported a loss of 42 cents a share on revenue of $214.7 million. Analysts surveyed by FactSet had estimated a loss of 5 cents a share on revenue of $289.2 million. For the year, Select Comfort forecast earnings of $1.25 to $1.45 a share. Analysts had estimated $1.57 a share.

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