This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Lumber Liquidators Announces Second Quarter 2012 Financial Results And Raises Full Year Outlook

Lumber Liquidators (NYSE: LL), the largest specialty retailer of hardwood flooring in the U.S., today announced financial results for the second quarter and six months ended June 30, 2012, and raised its outlook for 2012.

Second Quarter Results

Net sales increased $34.9 million, or 19.9%, to $210.3 million in the second quarter of 2012 from $175.5 million in the second quarter of 2011. Comparable store net sales increased 12.4% for the quarter, driven by a 6.3% increase in the average sale and a 5.8% increase in the number of customers invoiced at these stores. Non-comparable store net sales increased $13.2 million. The Company opened 10 new stores during the second quarter.

Gross margin was 37.3% in the second quarter of 2012 compared to 34.0% in the second quarter of 2011. The increase in gross margin reflects generally lower costs of product due to both sourcing initiatives and sales mix, and lower net transportation costs.

Selling, general and administrative (SG&A) expenses improved to 27.9% of net sales for the second quarter of 2012 compared to 29.1% of net sales for the second quarter of 2011. Operating margin increased to 9.4% in the second quarter of 2012, from 4.9% in the second quarter of 2011.

Net income increased 130.4% to $12.2 million, or $0.43 per diluted share, in the second quarter of 2012 from $5.3 million, or $0.19 per diluted share, in the second quarter of the prior year.

Cash and cash equivalents at June 30, 2012 totaled $31.5 million, compared with $33.4 million at June 30, 2011 and $61.7 million at December 31, 2011. During the second quarter of 2012, pursuant to its previously announced stock repurchase program, the Company repurchased approximately 915,000 shares of its common stock for $25.4 million, and at June 30, 2012, had authorized repurchases of approximately $15.7 million of its common stock remaining under its $50 million stock repurchase program.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.42 -105.19 -0.62%
S&P 500 1,962.36 -10.47 -0.53%
NASDAQ 4,391.2850 -27.7490 -0.63%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs