Lumber Liquidators Income Surges, Ups Outlook

Toano, VA, July 25, 2012 -- Lumber Liquidators reported that second quarter net income increased 130.4% to $12.2 million, or $0.43 per share from $5.3 million, or $0.19 per share, a year ago.

Net sales increased $34.9 million, or 19.9%, to $210.3 million.

Comparable store net sales increased 12.4% for the quarter, driven by a 6.3% increase in the average sale and a 5.8% increase in the number of customers invoiced at these stores.

Non-comparable store net sales increased $13.2 million. The company opened 10 new stores during the second quarter.

The company also raised its guidance for the year. It projected sales of $750 million to $775 million, up from the previous range of $720 million to $750 million.