Lumber Liquidators Q3 Sales +19%

[Wednesday, October 24, 2012]  Lumber Liquidators today announced third quarter net sales increased $32.3 million, or 18.8%, to $204.3 million from $172.0 million in the third quarter of 2011. Comparable store net sales increased 12.0% for the quarter, driven by an 11.7% increase in the number of customers invoiced at these stores and a slight increase in the average sale. Non-comparable store net sales increased $11.7 million. The Company opened seven new stores during the third quarter.

Net income increased 91.3% to $12.9 million, or $0.46 per diluted share, in the third quarter of 2012 from $6.7 million, or $0.24 per diluted share, in the third quarter of the prior year. Based on year-to-date results and current trends, the Company now expects to achieve net sales for the full year in the range of $791 million to $799 million, up from the previous range of $750 million to $775 million. Read More ...