Lumber Liquidators announced financial results for the 2Q, ended June 30, 2018. Net sales for the 2Q 2018 increased $20 million, or 7.6%, to $283.5 million from $263.5 million in the 2Q 2017, as the company said in the press release received by Lesprom Network.
Gross profit increased 4% in the 2Q 2018 to $101.3 million from $97.5 million in the comparable period in 2017. Gross margin decreased to 35.7% in the 2Q 2018 from 37% in the 2Q 2017. Gross margin was favorably impacted by revisions to antidumping rates, which generated income of $2.1 million and $2.8 million for the three months ended June 30, 2018 and 2017, respectively.
Operating loss for the three months ended June 30, 2018 was ($0.9 million) compared to operating income of $5.1 million in the comparable period in 2017.
Net loss for the three months ended June 30, 2018 was $1.5 million, or $0.05 per diluted share, compared to net income of $4.5 million, or $0.16 per diluted share, for the three months ended June 30, 2017.
Lumber Liquidators is North America's largest specialty retailer of hardwood flooring.
