Lumber Liquidators 2015 Annual Report Download - page 91

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Lumber Liquidators Holdings, Inc.
Notes to Consolidated Financial Statements
(amounts in thousands, except share data and per share amounts)
Note 11. Condensed Quarterly Financial Information (unaudited) − (continued)
Quarter Ended
March 31,
2014
June 30,
2014
September 30,
2014
December 31,
2014
Net Sales ........................... $246,291 $263,085 $266,067 $271,976
Gross Profit ......................... 101,287 106,238 104,158 106,484
Selling, General and Administrative Expenses . . 78,866 79,066 78,377 77,805
Operating (Loss) Income ................ 22,421 27,172 25,781 28,679
Net (Loss) Income ..................... $ 13,694 $ 16,607 $ 15,725 $ 17,345
Net income per Common Share − Basic ...... $ 0.50 $ 0.61 $ 0.58 $ 0.64
Net income per Common Share − Diluted ..... $ 0.49 $ 0.60 $ 0.58 $ 0.64
Number of Stores Opened in Quarter ........ 13 13 5 3
Comparable store net sales (Decrease) Increase . . (0.6)% (7.1)% (4.9)% (4.2)%
Note 12. Subsequent Events
In February 2016, the Company paid settlement amounts totaling $6,200, as described in Note 10, under
Lacey Act Related Matters.
Due to a planned build in inventory, the Company borrowed an additional $10,000 under its Revolving
Credit Facility, as described in Note 4. As of February 29, 2016, the Company has $30,000 in outstanding
borrowings under the Revolving Credit Facility.
81