Lumber Liquidators' Income, Sales Surge

Toano, VA, Feb. 20, 2013 -- Lumber Liquidators reported that fourth quarter net income increased 63.2% to $13.8 million, or $0.50 per share, from $8.5 million, or $0.30 per share, a year ago.

Net sales increased $36.2 million, or 20.8%, to $210.7 million in the quarter from $174.5 million in the fourth quarter of 2011.

Comparable store net sales increased 13.2% for the quarter, driven by a 9.1% increase in the number of customers invoiced and a 3.9% increase in the average sale.

Non-comparable store net sales increased $13.1 million over the prior year period.

As of December 31, 2012, the company operated 288 stores, including four stores opened during the fourth quarter of 2012, for a total of 25 stores opened during the year.

For the full year, net sales increased 19.3% to $813.3 million in 2012 from $681.6 million in 2011, as comparable store net sales increased 11.4%.