Lumber Liquidators Reports Higher Income, Sales

Toano, VA, April 25, 2012 -- Lumber Liquidators reported first quarter net income increased 41.9% to $8.2 million, or $0.29 per share, from $5.8 million, or $0.20 per share, in the first quarter of 2011.

Net sales increased $28.4 million, or 17.8%, to $188.0 million from $159.7 million in the first quarter of 2011.

Comparable store net sales increased 7.5% for the quarter, driven by an 8.0% increase in the number of customers.

Non-comparable store net sales increased $16.4 million. The Company opened four new stores during the first quarter of 2012.

The company also raised its income and sales guidance for 2012.