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.
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