Lumber Liquidators Reports Lower Income, Higher Sales

Toano, VA, Feb. 25, 2015 -- Lumber Liquidators reported fourth quarter net income of $17.3 million, or $0.64 per share, compared to net income of $20.8 million, or $0.74 per share, a year ago.

However, net sales increased $13.6 million, or 5.2%, to $272.0 million from $258.4 million in the fourth quarter of 2013.

Comparable store net sales fell 4.2% for the quarter, as the average sale fell by 5.3% even though the number of customers increased 1.1%.

However, CEO Robert M. Lynch said business picked up in December as the number of customers rose 8%.

For the year, net sales increased 4.7% to $1.05 billion.

The company opened 34 new stores in 2014, and as of December 31, 2014, operated 352 stores in 46 states and Canada.