US hardwood flooring retailer Lumber Liquidators has announced its first quarter net income almost doubled year-on-year.
The company recorded net income of US$4.3m during the first quarter of 2008, compared to US$2.2m the previous year. Net sales also increased by 24.5% year-on-year to US$114.5m.
“We are very pleased with our strong results in the first quarter and our ability to maintain the positive momentum we experienced in the second half of last year,” said Jeffrey Griffiths, president and chief executive officer.
“Overall, our performance in the first quarter demonstrates the continuing appeal of our value proposition of price, selection, quality and availability, and our ability to bring that proposition to an expanding base of customers.”
Lumber Liquidators has recently started targeting the UK market, offering price reductions and free shipping.
“With the American dollar at an historic low and our free shipping offer through to May 31, the value is remarkable for UK customers,” said Tom Sullivan, founder and chairman.
