Lumber Liquidators up 64.4% in full-year income
Lumber Liquidators posted a strong earnings report Wednesday for the fourth quarter and full year ended Dec. 31, 2013.
Net sales for the three-month period were $258.4 million, up 22.7% from 2012. For the full year, sales came in at $1.0 billion, a nearly 23% improvement in year-ago terms.
Fourth-quarter net income weighed in at $20.8 million, up considerably from last year’s $13.8 million. For 2013 as a whole, Lumber Liquidators pulled in $77.4 million, an increase of 64.4%.
"We achieved record highs for net sales and operating margin in the fourth quarter as we continued to gain share in a highly fragmented market," said president and CEO Robert Lynch. "Customer demand was inconsistent during the quarter, with certain regions of the country periodically impacted by difficult weather conditions. Nevertheless, our store team, with support across the organization, delivered an unprecedented level of individualized customer service and focus on operating results."
Lumber Liquidators is also reaffirming its outlook for 2014, which includes net sales in the range of $1.15 billion to $1.20 billion and the opening of 30 to 40 new stores. Lynch noted that the company’s planned capital investment in 2014 will be the largest in its history.
"I could not be more proud of this team as we crossed the milestone of $1.0 billion in annual net sales in 2013, and the results we have achieved throughout the year are a direct reflection of the commitment and efforts of our team," added Lynch. "This was a year of significant accomplishments by our team, and we believe that our intense focus, unified vision and coordinated efforts set the foundation for an exciting 2014."
Eco Red Shield Lumber starts 2014 strong in the West
Eco Building Products, Inc. issued a status update on Tuesday, affirming that shipping activity has remained high in the Western U.S., even while much of the country is heaped under ice and snow.
"It has always been part of our national rollout plan to create demand and raise up an army of ECOB Affiliates to ensure that Builders like Mike Gitt in Omaha, NE have access to this advanced framing lumber in the future without having to haul it across the country," said Steve Conboy, president and CEO. "Our first customer in the East was Greg and Patty, and they bought all of their lumber for a 12,000 sq. ft. house in CT. Today they can buy it locally from multiple vendors in the northeast for their next house."
Eco Red Shield’s manufacturing facilities in Salem, Ore. and Colton, Calif. have had a strong start to 2014, fulfilling large coating orders for Shelter Products Inc. in Portland, Ore.
Additionally, a spate of multi-family housing projects in Denver have brought railcars of protected lumber down from the Pacific Northwest.
The company still expects a fair amount of activity in the spring and in connection to the Sandy Rebuild, due in part to its recent 104 store expansion.
Mike Holmes and CertainTeed tackle IAQ
Home improvement TV personality Mike Holmes is joining forces with CertainTeed Gypsum to raise awareness of the importance of indoor air quality (IAQ) and incorporating high performance drywall products as part of good IAQ design and construction.
CertainTeed’s volatile organic compound (VOC) scavenging drywall line — the AirRenew IAQ Gypsum Board product family — has been officially designated as a HOLMES Approved Product.
The AirRenew product line features technology that actively helps to clear indoor air by capturing VOCs, specifically formaldehyde and other aldehydes, and converting them into inert compounds, while M2Tech technology provides moisture and mold resistance to further contribute to a better indoor environment.
“AirRenew helps remove unwanted chemicals from your indoor air – even years after a construction job is done,” said Mike Holmes. “Many things in the home off-gas, from the furniture and paint to the carpeting and cabinets. And breathing in these chemicals on a daily basis may be dangerous to your health. It’s a real concern. But products like AirRenew are ahead of the game. They’re tackling IAQ issues head on. That’s something I can stand behind,” added Holmes.