TOANO, VA- Lumber Liquidators (NYSE: LL), will repurchase an additional $50 million of its common stock through open market purchases or through privately negotiated transactions.
In its latest quarterly earnings report, Lumber Liquidators said net income soared 91% to $12.9 million, and raised its outlook for 2012. Sales rose 19% to $602 million. The flooring company said its increase in gross margin reflected lower costs of flooring due to sourcing initiatives.
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