Lumber Liquidators Holdings, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company’s net sales increased $42.4 million, or 22.5%, to $230.4 million in the first quarter of 2013 from $188.0 million in the first quarter of 2012. Net income increased 92.5% to $15.8 million, or $0.57 per diluted share, in the first quarter of 2013 from $8.2 million, or $0.29 per diluted share, in the first quarter of the prior year. Operating income was $25.4 million against $13.3 million for the same period a year ago. Income before income taxes was $25.6 million against $13.4 million for the same period a year ago. Net cash provided by operating activities was $11.1 million against $10.3 million for the same period a year ago. Purchases of property and equipment were $2.6 million against $3.2 million for the same period a year ago. The company revised its earnings guidance for the full year 2013. For the year, the company now expects net sales to be in the range of $913 million to $942 million, up from the previous range of $885 million to $920 million. The company expects comparable store net sales increasing in the mid to high-single digits, up from the previous range of mid-single digits. The company expects earnings per diluted share in the range of $2.10 to $2.35, based on a diluted share count of approximately 28.0 million shares, which is exclusive of any future impact of the stock repurchase program, up from the previous range of $1.90 to $2.15. The company now believe gross margin for 2013 will expand 100 to 160 basis points over the 2012 level. The company continues to anticipate opening 25 to 35 new store locations in 2013.

Lumber Liquidators Holdings, Inc., Annual General Meeting, May 16, 2013., at 10:00 US Eastern Standard Time. Location: 3000 John Deere Road. Agenda: To elect three directors, Macon F. Brock, Jr., John M. Presley and Thomas D. Sullivan, to hold office until the 2016 annual meeting of stockholders and until their successors are elected and qualified; to ratify the selection of Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2013; to approve, in an advisory (non-binding) vote, executive compensation; and to consider and act upon any other business which may properly come before the annual meeting.

Lumber Liquidators Holdings, Inc., Q1 2013 Earnings Call, Apr 24, 2013