Select Comfort Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 29, 2012. Net sales increased 17% to a fourth quarter record of $221 million. Comparable sales grew 11% on top of a 31% comp in the fourth quarter of 2011. EPS was $0.22 versus an adjusted EPS of $0.24 in fourth quarter 2011. Operating income was $19,414,000 against $19,970,000 a year ago. Income before income taxes was $19,504,000 against $19,974,000 a year ago. Net income was $12,495,000 against $15,370,000 a year ago. Adjusted EBITDA was $25,939,000 against $25,064,000 a year ago.

Net sales increased 26% year-over-year to a full year record of $935 million, up from $743 million in 2011. Comparable sales grew 23%, a 49% increase in 2-years stack comp growth. Adjusted operating margin was a record 13.4%, up 120 basis points from prior year. Adjusted earnings per diluted share were $1.43, which represented a 34% increase over prior year. Operating income was $119,787,000 against $90,453,000 a year ago. Income before income taxes was $120,005,000 against $90,420,000 a year ago. Net income was $78,094,000 or $1.37 diluted per share against $60,478,000 or $1.07 diluted per share a year ago. Net cash provided by operating activities was $100,626,000 against $91,046,000 a year ago. Purchases of property and equipment was $51,593,000 against $23,527,000 a year ago. Adjusted EBITDA was $150,285,000 against $109,180,000 a year ago. Adjusted operating income was $125,382,000. Adjusted income before income taxes was $125,600,000. Adjusted net income was $81,748,000.

The company provides earnings guidance for the full year of 2013. The company expects full year 2013 earnings per share to increase 15% to 26% from an adjusted $1.43 in 2012 to between $1.65 and $1.80. The company expects 2013 CapEx of $70 million to $80 million.

The company plans increase the store count from 410 at year-end 2012 to between 435 and 445 by year-end 2013.