Lumber Liquidator Reports Higher Income, Sales
Toano, VA, July 24, 2013 -- Lumber Liquidators reported second quarter net income of $20.4 million, or $0.73 per share, up 67.7% $12.2 million, or $0.43 per share, in the second quarter of 2012.
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Net sales rose $46.8 million, or 22.2%, to $257.1 million from $210.3 million a year ago.
Comparable store net sales increased 14.9% for the quarter, driven by a 9.1% increase in the number of customers invoiced and a 5.4% increase in the average sale.
“Our success in expanding gross margin allows us to reinvest across our industry-leading value proposition, and we see multi-year opportunities to expand operating margin while we continue to grow our store base,” said CEO Robert Lynch.
The results beat the forecast by analyst Stifel Nicolaus considerably.