Shares of Lumber Liquidators Holdings, Inc. LL continue to plunge amid lackluster financial results and allegation of selling Chinese flooring laminates containing much higher formaldehyde levels than approved. In fact, the stock has fallen more than 56% over the past one year.Earlier, the Centers for Disease Control and Prevention (CDC) announced that the risk of cancer from the company’s flooring products is much higher than reported earlier. The study found high levels of formaldehyde, a well known carcinogen, in the company’s flooring products.Per CDC, exposure to the company's laminate flooring may cause cancer in 6 to 30 people per 100,000 as against the previous estimate of 2 to 9 persons per 100,000. The use of Chinese laminate flooring may increase respiratory problems for people suffering from asthma and lung disease. Even healthy people may face problems such as eye, nose and throat irritation.Lumber Liquidators has been in troubled waters since a report aired on 60 Minutes on Mar 1, 2015, accused it of selling Chinese flooring laminates containing formaldehyde levels that do not meet California’s emission standards.Dismal Quarterly Numbers Weigh on StockEver since Lumber Liquidators reported dismal quarterly numbers on May 10, the company’s shares have tanked nearly 14%. Notably, this is the seventh consecutive quarter in which the both the top line and bottom line of the company have missed the Zacks Consensus Estimate.In the first quarter of 2016, the company posted a loss of $1.20, much wider than the Zacks Consensus Estimate of a loss of 27 cents. In the first-quarter of 2015, the company’s losses were 29 cents per share.Lumber Liquidators Holdings Inc. (LL) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompanyNet sales plunged 10.2% to $233.5 million and also fell short of the Zacks Consensus Estimate of $239 million. Comparable-store net sales decreased 13.9% because of a 13.8% decline in the number of customers invoiced and a 0.1% dip in average sales. However, non-comparable store sales increased $9.5 million over the prior-year quarter.Selling, general and administrative (SG&A) expenses rose 20.1% to $117.6 million in the quarter while SG&A expenses, as a percentage of sales, increased to 50.2% from 37.5%.Balance Sheet and Cash FlowLumber Liquidators ended the quarter with cash and cash equivalents of $22 million as against $26.7 million in the year-ago quarter. Merchandise inventories at the end of the quarter amounted to $240 million compared with $244.4 million at the end of the year-ago quarter.Zacks RankLumber Liquidators which shares space with Lowe's Companies, Inc. LOW and The Home Depot, Inc. HD currently has a Zacks Rank #3 (Hold). A better-ranked stock in this sector is Tile Shop Holdings, Inc. TTS, which currently has a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HOME DEPOT (HD): Free Stock Analysis Report LOWES COS (LOW): Free Stock Analysis Report LUMBER LIQUIDAT (LL): Free Stock Analysis Report TILE SHOP HLDGS (TTS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research