Lumber Liquidators 2007 Annual Report Download - page 71

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Quarter Ended
March 31,
2006
June 30,
2006
September 30,
2006
December 31,
2006
(in thousands, except for per share amounts)
Net Sales .......................................... $76,051 $88,078 $83,090 $84,841
Gross Profit ........................................ 26,409 29,453 27,402 26,865
Selling, General and Administrative Expenses(1) ........... 20,537 21,487 22,587 24,105
Operating Income .................................... 5,872 7,966 4,815 2,760
Net Income ......................................... $ 3,560 $ 4,819 $ 2,896 $ 1,623
Net Income per Common Share—Basic .................. $ 0.24 $ 0.32 $ 0.19 $ 0.11
Net Income per Common Share—Diluted ................. $ 0.15 $ 0.21 $ 0.13 $ 0.07
(1) Selling, General and Administrative Expenses includes $260 of variable plan stock compensation expense
for each of the quarters ended March 31, June 30, September 30, and December 31.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
Item 9A. Controls and Procedures.
Evaluation of disclosure controls and procedures. Our management evaluated, with the participation of our
Chief Executive Officer and our Chief Financial Officer, the effectiveness of our disclosure controls and
procedures as of the end of the period covered by this annual report on Form 10-K. Based on this evaluation, our
Chief Executive Officer and our Chief Financial Officer have concluded that our disclosure controls and
procedures are effective to ensure that information we are required to disclose in reports that we file or submit
under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time
periods specified in Securities and Exchange Commission rules and forms.
Changes in internal control over financial reporting. There was no change in our internal control over
financial reporting that occurred during the period covered by this annual report on Form 10-K that has
materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
Evaluation of internal control over financial reporting. This annual report does not include a report of
management’s assessment regarding internal control over financial reporting or an attestation report of the
company’s registered public accounting firm due to a transition period established by rules of the SEC for newly
public companies.
Item 9B. Other Information.
None.
65