Virginia News

Jul 30, 1:53 PM EDT

Lumber Liquidators 2Q profit falls 19 percent

TOANO, Va. (AP) -- Lumber Liquidators saw a 19 percent drop in second quarter earnings after a rough winter that dampened construction in many regions.

The company, based in Toano, had already warned of a tough quarter ahead and earnings were in line with reduced Wall Street expectations, according to a poll by Zacks Investment Research.

Net income decreased to $16.6 million, or 60 cents per share, from $20.4 million, or 73 cents per share, in the same quarter a year ago.

The hardwood flooring retailer's revenue climbed 2.3 percent to $263.1 million from $257.1, also matching expectations.

Same-store sales fell about 7 percent.

Shares of Lumber Liquidators Holdings Inc. fell 22 cents to $55.21 in a mostly down day on major U.S. markets.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.