Lumber Liquidators Raises Q4 Estimates

Toano, VA, Jan. 12, 2010--Lumber Liquidators said it expects fourth quarter sales to be up 18 percent and the company raised its 2009 earnings outlook.

Meanwhile, an analyst at Thomas Weisel downgraded the stock from Overweight to Market Weight.

The company also said comparable store net sales should be up about 5.5 percent for the fourth quarter, compared with a fall of 4.6 percent a year ago.

"We experienced strong store traffic throughout the quarter, which helped drive our increase in comparable store net sales," Lumber said in a news release.

The company said it now expects 2009 earnings per share of 95 cents to 97 cents, up from its earlier estimates of 90 cents to 95 cents.

The company said it expects net sales of about $137 million for the fourth quarter.

For the full year, net sales are expected to increase about 12.8 percent to $544 million while comparable store net sales are expected to be flat, the company noted.