Liquidity Services, Inc. LQDT, a leading online auction marketplace
for surplus and salvage assets, announced today preliminary Gross Merchandise
Volume (GMV) results for its first quarter fiscal year 2013 ended December 31,
2012, and is reaffirming guidance for Adjusted EBITDA and Adjusted Diluted
Earnings Per Share. The Company will discuss its final results for Q1-FY13 in
a conference call on Thursday, January 31, 2013 at 10:30 a.m. Eastern Time.
The earnings press release will be distributed prior to market open on the
same day. Bill Angrick, Chairman and CEO, and Jim Rallo, CFO, will host the
earnings event.
For Q1-FY13, Liquidity Services today announced that its Gross Merchandise
Volume (GMV) was approximately $234 million, which falls below the Company's
guidance range of $240-$250 million. The lower than expected GMV is a result
of several delayed energy equipment sales within the Company's capital assets
group.
The Company reaffirms its quarterly guidance for Q1-FY13 for Adjusted EBITDA
and Adjusted Diluted Earnings Per Share (EPS). We expect Adjusted EBITDA for
Q1-FY13 to range from $22.0 million to $24.0 million and Adjusted Diluted EPS
to be $0.36 to $0.40.
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