MINNEAPOLIS–Select Comfort will push back its release of its fourth-quarter and fiscal-year 2009 results to an undetermined date, according to a company statement.
The mattress manufacturer-retailer has also entered into an amendment to its credit agreement that will defer a reduction to the amount of credit available until March 31. Originally, the $90 million credit line was to be slimmed to $85 million on March 1. Select Comfort also said it has been exploring “a range of strategic and financing alternatives to enhance its financial flexibility.”
Through the first three quarters of the 2009 fiscal year, Select Comfort reported a net loss of $12.7 million, compared to net income of $25.5 million for the first nine months of fiscal 2008. The company’s net sales for that period fell 22 percent to $477.5 million.