Company OutlookThe Company has narrowed its outlook for fiscal 2011 and now expects the following, which is inclusive of the Sequoia transaction:
- Net sales for the full year in the range of $673 million to $686 million, narrowed from the previous range of $670 million to $700 million, with:
- Third quarter net sales in the range of $168 million to $171 million, narrowed from the previous range of $165 million to $180 million, and
- Fourth quarter net sales in the range of $170 million to $180 million, narrowed from the previous range of $170 million to $185 million.
- The opening of 7 to 9 new store locations in the fourth quarter of the year, for a total of 40 to 42 new store locations in 2011, narrowed from the previous range of 40 to 44 new store locations.
- Earnings per diluted share for the full year 2011 in the range of approximately $1.00 to $1.08, narrowed from the previous range of approximately $1.00 to $1.15, each based on a diluted share count of approximately 28.5 million shares, with:
- Third quarter earnings per diluted share in the range of approximately $0.21 to $0.24, narrowed from the previous range of $0.21 to $0.31, and
- Fourth quarter earnings per diluted share in the range of approximately $0.39 to $0.44.
Named one of Forbes’ 100 Most Trustworthy Companies of 2010, the Company’s quality products—such as Bellawood Prefinished Hardwood and Morning Star Bamboo—regularly appear on popular television shows, such as Extreme Makeover: Home Edition and HGTV’s Dream Home.For more information, please visit www.lumberliquidators.com or call 1.800.HARDWOOD. You can also follow the Company on Facebook and Twitter. Forward-Looking Statements This press release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act. These statements are based on currently available information as of the date of such statements and are subject to risks and uncertainties that may cause actual results to differ. The Company specifically disclaims any obligation to update these statements which speak only as of their respective dates, except as may be required under the federal securities laws. Information regarding these additional risks and uncertainties is contained in the Company’s filings with the Securities and Exchange Commission.