This Day On The Street
Continue to site
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

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

Robert M. Lynch, President and Chief Executive Officer, commented, “We are pleased that our team delivered record results through the important spring remodeling season and continued to execute on our key strategic initiatives. We drove consistently strong customer demand during the quarter as greater recognition of our value proposition was achieved through our efforts to expand our advertising reach and frequency. Through our team’s coordinated efforts and commitment to continuous improvement in everything we do, we captured market share and expanded operating margin in the second quarter.”

First Six Months Results

Net sales increased 18.9% to $398.4 million in the first six months of 2012 from $335.1 million in the first six months of 2011. Comparable store net sales increased 10.1% for the first half of 2012, compared to a decrease of 6.2% for the first half of the prior year. Non-comparable store net sales increased $29.7 million over the prior year. The Company opened 14 new stores during the first six months of 2012 and as of June 30, 2012, operated 277 stores in 46 states and Canada.

Gross margin increased to 37.3% for the first six months of 2012 from 35.1% in the same period of 2011. SG&A expenses improved to 29.0% of net sales for the first half of 2012, compared to 29.7% of net sales for the first half of 2011. Operating margin increased to 8.3% in the first six months of 2012, from 5.4% in the first six months of 2011.

Net income increased 84.2% to $20.4 million, or $0.72 per diluted share, in the first half of 2012 compared to $11.1 million, or $0.39 per diluted share, in the first half of the prior year.

Company Outlook

Based on year-to-date results and current trends, the Company now expects to achieve the following in 2012:
  • Net sales for the full year in the range of $750 million to $775 million, up from the previous range of $720 million to $750 million.
  • An increase in comparable store net sales in the mid-single digits.
  • The opening of a total of 20 to 25 new store locations, including two to four in Canada.
  • Full year earnings per diluted share in the range of $1.30 to $1.42, based on a diluted share count of approximately 28.0 million shares, which is exclusive of any future impact of the share repurchase program. The Company previously expected a range of $1.10 to $1.25 based on a diluted share count of 28.7 million shares.

Mr. Lynch concluded, “Our team is excited and motivated by the opportunities that lie ahead. We believe Lumber Liquidators is successfully navigating through what remains a challenging and uncertain retail environment, particularly for large-ticket, discretionary purchases. Our value proposition continues to resonate well with consumers, and as we look toward both the back half of the current year and into the next, we are confident in our ability to continue to drive traffic, improve our operations, expand our operating margin and grow our footprint.”

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.36 0.39%
FB $101.76 2.20%
GOOG $692.48 2.10%
TSLA $148.76 0.34%
YHOO $27.41 2.20%


Chart of I:DJI
DOW 16,097.52 +83.14 0.52%
S&P 500 1,874.78 +22.57 1.22%
NASDAQ 4,349.6250 +80.8620 1.89%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs