Lumber Liquidators 2013 Annual Report Download - page 70

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Lumber Liquidators Holdings, Inc.
Notes to Consolidated Financial Statements
(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 2013 and 2012.
Quarter Ended
March 31,
2013
June 30,
2013
September 30,
2013
December 31,
2013
(dollars in thousands, except per share amounts)
Net Sales ........................... $230,418 $257,111 $254,278 $258,433
Gross Profit ......................... 92,997 106,079 106,375 105,531
Selling, General and Administrative Expenses . . 67,589 72,992 73,109 71,270
Operating Income ..................... 25,408 33,087 33,266 34,262
Net Income ......................... $ 15,781 $ 20,422 $ 20,397 $ 20,795
Net Income per Common Share − Basic ...... $ 0.58 $ 0.74 $ 0.74 $ 0.75
Net Income per Common Share − Diluted ..... $ 0.57 $ 0.73 $ 0.73 $ 0.74
Number of Stores Opened in Quarter ........ 5 7 7 11
Comparable Store Net Sales Increase ........ 15.2% 14.9% 17.4% 15.6%
Effective Tax Rate ..................... 38.4% 38.6% 38.8% 39.3%
Quarter Ended
March 31,
2012
June 30,
2012
September 30,
2012
December 31,
2012
(dollars in thousands, except per share amounts)
Net Sales ........................... $188,034 $210,347 $204,291 $210,655
Gross Profit ......................... 70,137 78,480 77,886 82,282
Selling, General and Administrative Expenses . . 56,819 58,685 57,135 57,800
Operating Income ..................... 13,318 19,795 20,751 24,482
Net Income ......................... $ 8,197 $ 12,177 $ 12,882 $ 13,808
(1)
Net Income per Common Share − Basic ...... $ 0.29 $ 0.44 $ 0.47 $ 0.51
Net Income per Common Share − Diluted ..... $ 0.29 $ 0.43 $ 0.46 $ 0.50
Number of Stores Opened in Quarter ........ 4 10 7 4
Comparable Store Net Sales Increase ........ 7.5% 12.4% 12.0% 13.2%
Effective Tax Rate ..................... 38.6% 38.6% 38.0% 43.7%
(1)
Net income included $1,267 of income tax expense related to the recording of a full valuation allowance
on the net deferred tax assets in Canada in the quarter ended December 31, 2012.
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