Lumber Liquidators Q4 Earnings Rise, Top Views; To Buy Back Shares

(RTTNews) - Lumber Liquidators Holdings, Inc. (LL), a specialty retailer of hardwood flooring, Wednesday reported an increase in earnings for the fourth quarter, above analysts' estimates, mostly due to a 22.7 percent growth in revenues.

In addition, the company announced that the Board has authorized share repurchase of an additional $50 million.

For the fourth quarter, earnings rose to $20.79 million or $0.74 per share, from $13.81 million or $0.50 per share a year earlier. On average, 13 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.73 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales rose to $258.43 million from $210.65 million a year earlier. Analysts had expected the company to report sales of $254.4 million for the quarter. Comparable store net sales rose 15.6 percent for the quarter.

For the full-year 2013, earnings increased to $77.39 million or $2.77 per share from $47.06 million or $1.68 per share a year earlier. Annual net sales grew to $1 billion from $813.33 million in 2012.

For 2014, the company said it still expects earnings per share of $3.25 - $3.60, on net sales of $1.15 billion - $1.20 billion, with growth in comparable store net sales in the high single to low-double digits.

Analysts estimate earnings per share to be $3.49 and sales to be $1.16 billion in 2014.

Also, the company expects capital expenditure of $80 million to $90 million in 2014.