Lumber Liquidators Pops 26% after Positive Quarter
Shares of Lumber Liquidators (NASDAQ: LL) were seeing increased strength during Wednesday's trading session after the company reported strong second-quarter results.
Lumber Liquidators Holdings reported second-quarter EPS of $0.43 versus the estimated $0.29 per share, beating by +48.3%. Revenues came in at $210.3M versus the estimated $196.75M, beating by +6.9%.
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.
Robert M. Lynch, CEO of LL, 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.”
Wednesday, shares of Lumber Liquidators traded up over 26 percent, at about $41.09 per share.
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