Lumber Liquidators Q1 Profit Declines; Reiterates Full Year Outlook

(RTTNews) - Lumber Liquidators (LL) reported first-quarter net income of $13.7 million, or $0.49 per share, compared to $15.8 million, or $0.57 per share, prior year.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.62 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 6.9% to $246.3 million from $230.4 million in the first quarter of 2013. In comparable stores, net sales decreased 0.6%. Analysts expected revenue of $262.54 million.

The company reiterated its previously provided full year outlook for net sales and earnings per share. Net sales is expected to be in the range of $1.15 billion to $1.20 billion. Earnings per share is expected to be in the range of approximately $3.25 to $3.60. Analysts expect the company to report full year profit per share of $3.51 on revenue of $1.18 billion.