Lumber Liquidators Inc. (Toano, Va.) showed a profit of $47.1 million for all of 2012, an increase of 79.2 percent over 2011. Net sales increased 19.3% to $813.3 million, and gross margin for comparable stores increased to 38.0% compared with 35.3% in 2011. During 2012 the company repurchased approximately 1.6 million shares of its common stock for $49.1 million.
The fourth quarter followed the same positive trend. Net sales increased by $36.2 million, or 20.8%, to $210.7 million from the fourth quarter of 2011. Gross margin was 39.1% in the fourth quarter of 2012, increasing 3.6% since last year, and net income increased 63.2% to $13.8 million. SG&A expenses decreased as a percentage of net sales to 27.4%, and operating margin increased to 11.6% in 2012 from 7.7% in 2011.
The company expects net sales to reach between $885 and $920 million in 2013, and it plans to open 25 to 35 new store locations.
