Aug 08, 2008. /Lesprom.com/. Lumber Liquidators shrugged off the housing downturn that has slammed any companies that rely on real estate and home investment and more than doubled its profits in the 2Q to $5.9 million, Daily Press reported. The company's sales of $128 million in the 2Q were 21% higher than the same period in 2007. Much of that growth came from adding stores, but existing sites still sold 2.7% more flooring than the year before as the company also improved overall profit margins. Lumber Liquidators, which sells hardwood flooring at low prices to the public and contractors out of warehouses, has posted strong numbers since the company went public last November. It has used the influx of cash to open 19 new stores, which have outperformed its expectations, and plans to open 33 to 38 in the year. "We are encouraged by our strong performance in the first six months of 2008," said Lumber Liquidators CEO Jeffrey W. Griffiths, in a statement, "especially given the challenging environment, and we are optimistic about our prospects for the second half of the year." The company raised the lower end of its profit projection for the year, and now expects to earn between $480 million and $490 million for the year. It has increased profit margins this year by purchasing lumber from mills looking to liquidate at a discount, getting a favorable tariff ruling on imported bamboo and selling more high-end premium flooring.