|  
Building products» More news on Building products

Losses for Lumber Liquidators again in fourth quarter

11.04.2019 − 

US-American Lumber Liquidators had to recorded regressive results again in the fourth quarter. At -54.9m US$, the operating result was well into the red. The same applies for the pre-tax result at -56.5m US$ and the net result at -56.9m US$. The higher sales, general, and administration costs (SG&A), which also include financial expenditure in connection with judicial disputes, are responsible for this development. In the legal dispute over laminate-flooring imports from China, for example, the company came to an agreement with the US Department of Justice on a fine of 33m US$, which became due at the end of December.

Lumber Liquidators gives the operating result adjusted for non-recurring effects as 6.7m US$; the margin calculated on this basis amounted to 2.5 %. The company achieved growth of 3.5 % in sales revenue in the fourth quarter at 268.9m US$ compared to the corresponding period in the preceding year. The five new branches opened in the period under review were the main factor contributing to this growth. One branch was closed down, however. At +0.4 %, area-adjusted sales revenue was almost on par with a year earlier.

Tags of this news:

previous − Hörmann builds new plants in China and the USA

Unilin files case against 45 manufacturers and distributors  − next