LAS VEGAS, May 16, 2016 /PRNewswire/ - Live Ventures
Incorporated (NASDAQ:LIVE) ("Live Ventures" or the "Company"), a
diversified holding company, today announced financial results from
its second fiscal quarter, which ended March
31, 2016.
During the second fiscal quarter, the Company reported sales of
$19.8 million, which was $15.6 million, or, 365% higher over the same
quarter last year. Gross profit was $5.6
million, which was $3.7
million, or, 190% higher than last year.
Net Income and Earnings per Share (EPS) for the quarter were
$1.2 million and 7 cents, respectively. Earnings before interest,
taxes, depreciation and amortization (EBITDA) for the quarter was
$2.1 million, or 12 cents per share.
The company's per-share book value rose by 18.5% over the
previous quarter, to approximately $0.47.
During the quarter, the company repurchased 53,510 of its
shares, representing approximately 0.3% of the total issued and
outstanding shares of the Company.
"We continue to see strong performance during 2016, which can be
attributed to a combination of our change in focus, which began
mid-2015, as well as the success our subsidiaries are
experiencing," said Jon Isaac, CEO
of Live Ventures Incorporated. "We are confident that Live Ventures
will continue to progress in the right direction, and we look
forward to reporting these successes to our stock holders."
Details of the company's filings can be found by accessing:
https://www.sec.gov/cgi-bin/browse-edgar?CIK=LIVE&owner=exclude&action=getcompany&Find=Search.
About Live Ventures Incorporated
Live Ventures
Incorporated is a diversified holding company with several
wholly-owned subsidiaries and a strategic focus on acquiring
profitable companies that have demonstrated a strong history of
earnings power. Live Ventures Incorporated provides, among
other businesses, marketing solutions that boost customer awareness
and merchant visibility on the Internet. We operate a deal engine,
which is a service that connects merchants and consumers via an
innovative platform that uses geo-location, enabling businesses to
communicate real-time and instant offers to nearby
consumers. In addition, we maintain, through our subsidiary,
ModernEveryday, an online consumer products retailer and, through
our subsidiary, Marquis Industries, a specialty, high-performance
yarns manufacturer, hard-surfaces re-seller, which is a top-10
high-end residential carpet manufacturer in the United
States. Marquis Industries, through its A-O Division, utilizes
its state-of-the-art yarn extrusion capacity to market monofilament
textured yarn products to the artificial turf industry.
Marquis is the only manufacturer in the world that can produce
certain types of yarn prized by the industry.
Forward-Looking and Cautionary Statements
This press
release may contain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of
1995. In accordance with the safe harbor provisions of
this Act, statements contained herein that look forward in time
that include everything other than historical information, involve
risks and uncertainties that may affect the company's actual
results. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar
statements. LiveDeal, Inc. may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K, in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. There can be no assurance
that such statements will prove to be accurate and there are a
number of important factors that could cause actual results to
differ materially from those expressed in any forward-looking
statements made by the company, including, but not limited
to, plans and objectives of management for future operations
or products, the market acceptance or future success of our
products, and our future financial performance. The
company cautions that these forward-looking statements are further
qualified by other factors including, but not limited to, those set
forth in the company's Form 10-K for the fiscal year ended
September 30, 2014, most recent Form
10-Q, and other filings with the U S. Securities and Exchange
Commission (available at http://www.sec.gov). The company
undertakes no obligation to publicly update or revise any
statements in this release, whether as a result of new information,
future events, or otherwise.
Contact:
Live Ventures Incorporated
Tim Matula, investor relations
425-836-9035
press@livedeal.com
http://livedeal.com/pressroom
SOURCE Live Ventures Incorporated