Wednesday, Lumber Liquidators Inc. (LL) said its third-quarter net income increased to $7.8 million or $0.28 per share from $5.5 million or $0.20 per share in the prior year period. On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share for the quarter.
Net sales for the quarter grew 14.2%, to $140.5 million from $123.1 million in the third quarter of 2008. Comparable store net sales for the quarter rose 1.9% compared with an increase of 2.0% last year. Eight analysts estimated revenues of $137.08 million for the quarter.
Full-year earnings per share are now expected to be in the range of $0.90 - $0.95 compared with its previous range of $0.85 - $0.91. Net sales for the full year are currently projected to be in the range of $535 million - $543 million compared with its prior range of $528 million - $538 million. Ten analysts estimate earnings of $0.90 per share on revenues of $537.06 million for the year 2009.
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