With its inception in the year 1994, Lumber Liquidators began when a building contractor by the name of Tom Sullivan resold the excess of unwanted wood to people. Gradually, it turned into a business and now the company operates from its headquarters in the city of Toano in Virginia. The headquarters stretch across an area of nearly 306,400 square-feet.
For the past two decades, the company has been booming and it has expanded its operations in 46 states with a workforce of over 1000 employees. With multiple locations in both Canada and the United States, the company is trying to reach across all corners of North America. Lumber Liquidators Holdings Inc. made an important announcement on Tuesday, reporting that they had incurred a loss of nearly 5.5 million dollars in their fourth quarter operations.
The company said that on the value of each share they had lost approximately 20 cents.
In spite of the disappointing results, the company had beaten the expectations of Wall Street. Zacks Investment Research had a team of 8 analysts who had carried out the calculation and estimated the loss of Lumber Liquidators Holdings Inc. to be about 29 cents each share.
The hardwood floor retailer had also posted revenue, which was worth 244.9 million dollars in the current period. This evaluation also topped the forecasts given by Wall Street. This time, the prediction of 6 analysts, which were surveyed by Zacks Investment Research, was wrong. They had estimated the worth to be 241.7 million dollars.
For the current year, Lumber Liquidators Holdings Inc. announced that the losses it incurred had widened to a sum of 68.6 million dollars, which means roughly 2.51 dollar on the price of each share. The total net revenue of the company was estimated and reported to be nearly 960.6 million dollars.
The shares of Lumber Liquidators have slightly gone down by the rate of 2 percent or maybe more from the beginning of this year. However, the stocks have seen progress too. In the last twelve months, the stocks had risen by the rate of nearly 6.5 percent.
Lumber Liquidators boasts of having the best quality of unfinished and prefinished hardwood inventories that are available in the entire industry. Speaking of their experts, the company provides services and products like engineered and solid hardwood, bamboo, cork, resilient vinyl and laminate flooring, molding, butcher blocks, tools and accessories.