Lumber Liquidators Profit More Than Doubles

Toano, VA, March 11, 2009--Lumber Liquidators, Inc. reported net income of $6.5 million, or $0.24 per share, in the fourth quarter compared to net income of $3.0 million, or $0.12 per share, in the fourth quarter of the prior year.

For the 2008 fiscal year, net income in 2008 was $22.1 million, or $0.82 per share.

Net sales in the quarter increased $11.0 million, or 10.4%, to $116.5 million in the fourth quarter of 2008 from $105.5 million in the fourth quarter of 2007.

Full year net sales increased $76.9 million, or 19.0%, to $482.2 million in 2008 from $405.3 million in 2007.

Comparable store net sales decreased 4.6% for the fourth quarter of 2008, as compared to an increase of 8.6% for the prior year period.

The increase in new store net sales was $15.9 million. Lumber Liquidators opened seven new stores in the fourth quarter, ending the year with 34 new store openings in keeping with its long term strategy of opening 30 to 40 per year.

The company said it plans to open approximately 30 to 36 stores this year. So far it has opened eight stores.

Lumber Liquidators said it expects net sales this year in the range of $515 million to $530 million. Comparable store net sales for the full year are expected to decrease in the low- to mid-single digit range.