AP Business Writer
RICHMOND, Va. (AP) -- Lumber Liquidators says its fourth-quarter net income surged 63 percent as the hardwood flooring retailer's sales rose and lower costs increased its profit margins.
The Toano, Va., company reports earnings of $13.8 million, or 50 cents per share, for the period ended Dec. 31. That's up from $8.5 million, or 30 cents per share, in the last three months of 2011.
Revenue rose nearly 21 percent to $210.7 million.
Analysts, on average, expected earnings of 44 cents per share, on $198.4 million in revenue, according to FactSet.
Revenue at stores open at least a year increased more than 13 percent. That comparison is a key gauge of a retailer's health because it excludes recently opened or closed stores.
Lumber Liquidators Holdings Inc. has more than 290 stores in North America.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Want to understand a partner? Get to know their brain.
Weinstein showcases Kelly and Mandela films at Cannes.
The "Terminator 2" actor is suspected of violating a restraining order.
An 800-pound alligator? That's not bad for a first hunting trip.