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Lumber Liquidators reports strong results as margins expand
July 25, 2012 / 1:07 PM / 5 years ago

Lumber Liquidators reports strong results as margins expand

* Q2 EPS $0.43 vs est $0.29

* Q2 sales rise 20 pct to $210.3 mln vs est $196.8 mln

* Raises FY EPS outlook to $1.30-$1.42 vs est $1.24

* Raises FY rev outlook to $750-$775 mln vs est $755.5 mln

* Shares rise 12 pct before the bell

July 25 (Reuters) - Lumber Liquidators’ (LL.N) quarterly results trumped Wall Street estimates as customers spent more at the hardwood flooring retailer’s stores and lower product costs boosted margins, prompting the company to forecast a strong year ahead.

The company’s shares rose 12 percent before the bell. They had closed at $32.58 on the New York Stock Exchange.

The company raised its earnings forecast for 2012 to $1.30-$1.42 per share on revenue of $750-$775 million. Analysts, on average, were looking for earnings of $1.24 per share on revenue of $755.5 million, according to Thomson Reuters I/B/E/S.

Second-quarter net income more than doubled to $12.2 million, or 43 cents per share.

    Net sales rose 20 percent to $210.3 million.

    Analysts had expected a profit of 29 cents per share on revenue of $196.8 million.

    Gross margins were 37.3 percent compared to 34 percent in the year ago period.

    (Reporting by Chris Jonathan Peters in Bangalore;)

    ((; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: Keywords: LUMBERLIQUIDATORS RESULTS/

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