Lumber Liquidators (LL) Posts Q2 GAAP Loss of 75c/Share

Lumber Liquidators (NYSE: LL) reported Q2 EPS of ($0.75), versus the analyst estimate of $0.06. Revenue for the quarter came in at $247.9 million versus the consensus estimate of $257.66 million.

Thomas D. Sullivan, Founder and Acting Chief Executive Officer, commented, "I founded Lumber Liquidators more than 20 years ago with the simple mission of offering good wood flooring at a good price and putting the customer first. We did this by getting great product, bringing it to the customer at a low cost and providing exceptional customer service. As we now endeavor to get the Company back on track, we are going to return to those principles that made us great. We're going to simplify the business, take care of our customers and deliver excellence at every level of the organization. Our results this quarter reflect the impact of challenges the Company has faced, particularly over the last several months. Our team is committed to leveraging and investing in our robust infrastructure, our strong brand and our long-term customer relationships. We believe that if we stay focused and do the simple things right, we can grow our business by re-establishing a solid foundation for our loyal customers, employees and shareholders."

Company Outlook

At this time, the Company cannot estimate a full year outlook, but does expect the following for the full year 2015:

• The opening of a total of 20 to 25 new store locations in the expanded showroom format.
• The remodeling of a total of 10 to 15 existing stores in the expanded showroom format.
• Capital expenditures between $20 million and $25 million.

Mr. Sullivan concluded, "As we work as a Company to deliver on our value proposition, I appreciate the support of our hardworking employees and management team. As a team, we are committed to getting back to basics and passionate about strengthening Lumber Liquidators across every area of the organization."

For earnings history and earnings-related data on Lumber Liquidators (LL) click here.

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