Lumber Liquidators Sees Net Income Surge
Toano, VA, Oct. 23, 2013 -- Lumber Liquidators reported that third quarter net income increased 58.4% to $20.4 million, or $0.73 per share from $12.9 million, or $0.46 per share, a year ago.
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Net sales increased 24.5% to $254.3 million.
The company raised its full year revenue estimate to a range of $985 million to $995 million.
Comparable store net sales increased 17.4% for the quarter, driven by a 9.8% increase in the number of customers and a 6.9% increase in the average sale.
CEO Robert M. Lynch said, "We experienced consistently strong demand across the third quarter. We continue to gain share in a highly-fragmented market."