Earnings report: Lumber Liquidators announces 18.8 percent increase in revenue
- October 24, 2012
Lumber Liquidators: Toano : Third quarter results
THE TAKE: Lumber Liquidators, a specialty retailer of hardwood flooring, reported an 18.8 percent increase in revenue. Comparable store net sales increased 12 percent for the quarter, driven by an 11.7 percent increase in the number of customers invoiced at these stores and a slight increase in the average sale.
Revenue: $204.3 million for the quarter, compared with $172 million last year.
Operating income: $20.8 million, up from $11 million, third quarter 2011.
Net income: Increased to $12.9 million compared to $6.7 million the prior year.
Diluted earnings per share: 46 cents per share, up from 24 cents per share.
The company’s take: Robert M. Lynch, President and CEO: “Our team continued to generate consistent strength in our top line by broadening our advertising reach and frequency, expanding our merchandise assortment and driving effective store execution. As a result, we delivered record operating margin and EPS in the quarter. Our value proposition, combining price, selection, quality and availability with the expertise and service provided by our people, resonated with customers during the quarter as we continued to capture share in our fragmented market.”