Lumber Liquidators 2010 Annual Report Download - page 62

Download and view the complete annual report

Please find page 62 of the 2010 Lumber Liquidators annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 72

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72

Lumber Liquidators Holdings, Inc.
Notes to Consolidated Financial Statements—(Continued)
(amounts in thousands, except share data and per share amounts)
NOTE 12. CONDENSED QUARTERLY FINANCIAL INFORMATION (unaudited)
The following tables present the Company’s unaudited quarterly results for 2010 and 2009.
Quarter Ended
March 31,
2010
June 30,
2010
September 30,
2010
December 31,
2010
(dollars in thousands, except per share amounts)
Net Sales ................................................... $151,195 $168,674 $147,192 $153,220
Gross Profit ................................................ 53,504 58,540 51,761 52,025
Selling, General and Administrative Expenses ..................... 42,213 43,863 44,909 42,682
Operating Income ............................................ 11,291 14,677 6,852 9,343
Net Income ................................................. $ 6,968 $ 9,093 $ 4,284 $ 5,921
Net Income per Common Share—Basic .......................... $ 0.26 $ 0.33 $ 0.16 $ 0.22
Net Income per Common Share—Diluted ......................... $ 0.25 $ 0.32 $ 0.15 $ 0.21
Number of Stores Opened in Quarter ............................. 11 6 10 10
Comparable Store Net Sales Increase (Decrease) ................... 8.0% 5.5% (5.7%) 1.2%
Quarter Ended
March 31,
2009
June 30,
2009
September 30,
2009
December 31,
2009
(dollars in thousands, except per share amounts)
Net Sales ................................................... $123,852 $143,116 $140,520 $137,080
Gross Profit ................................................ 44,562 50,578 51,184 48,353
Selling, General and Administrative Expenses ..................... 36,295 39,247 38,727 36,801
Operating Income ............................................ 8,267 11,331 12,457 11,552
Net Income ................................................. $ 5,093 $ 6,939 $ 7,761 $ 7,131
Net Income per Common Share—Basic .......................... $ 0.19 $ 0.26 $ 0.29 $ 0.26
Net Income per Common Share—Diluted ......................... $ 0.19 $ 0.25 $ 0.28 $ 0.25
Number of Stores Opened in Quarter ............................. 10 8 9 9
Comparable Store Net Sales Increase (Decrease) ................... (5.8%) (1.8%) 1.9% 5.5%
56