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.

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."