Lumber Liquidators tops best small biz list

Toano-based Lumber Liquidators  has been named the best small business in the country by Forbes in its annual ranking if the 200 Best Small Companies in America. The company makes and sells hardwood flooring. Toano is between Richmond and Williamsburg.

To be considered, companies must have shown sales and earnings growth, have an annual revenue between $5 million and $750 million, have been publicly traded for at least a year and have a stock price above $5.

The rankings are based on earnings growth, sales growth and return on equity over the past 12 months and over five years.

In the past 12 months, Lumber Liquidators has generated sales over $500 million and reported an income of $24 million. This is their first year on the list; the company went public in 2007.

You can find complete coverage of the list at Forbes.com.

For more on Lumber Liquidators, check out this profile that originally appeared on BizSense.

Lumber Liquidators: What recession?

During these recession days of anemic sales for construction goods, Lumber Liquidators might be what economists call a “countervailing indicator.”

In suburban Richmond, foundering new subdivision lots might draw no bidders when banks try to unload them. Nevertheless, Toano-based Lumber Liquidators, the largest specialty retailer of hardwood flooring in the United States, is doing just fine, thank you.

The firm, transplanted to Greater Richmond from New England a decade ago, saw a sales boost of $15.1 million, or 11.8 percent, in the second quarter. Gross margins increased to 35.3 percent compared with 34.6 percent for the same period last year. Read more