Lumber Liquidators (LL) Misses Q1 EPS by 13c; Guides FY In-Line

Lumber Liquidators (NYSE: LL) reported Q1 EPS of $0.49, $0.13 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $246.3 million versus the consensus estimate of $262.04 million.

Lumber Liquidators sees FY2014 EPS of $3.25-$3.60, versus the consensus of $3.51. Lumber Liquidators sees FY2014 revenue of $1.15-1.2 billion, versus the consensus of $1.18 billion.

Robert M. Lynch, President and Chief Executive Officer, commented, "Like so many, our team was frustrated by the severity, scale and duration of the harsh winter and the adverse impact it had on our net sales. Our customers generally follow a long purchase cycle, which we believe was either interrupted or completely suspended due to the unusually severe winter weather. However, as conditions generally became more seasonal in mid-March, customer demand increased. The key strategic initiatives we have implemented over the last two years have strengthened our operations, and we believe we are more capable than ever of serving customers who postponed their flooring purchase in the first quarter."

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