Live Ventures Registers ~5% Revenue Growth In Q4

Live Ventures Inc LIVE reported fourth quarter FY22 sales growth of 4.6% year-on-year to $73.78 million.
Revenue from Retail fell 3.7% Y/Y, Flooring Manufacturing climbed 0.7%, and Steel Manufacturing jumped 50.9%.
EPS loss for the quarter was $(0.20) versus $2.23 profit a year earlier.
Gross profit declined 10.6% Y/Y to $22.9 million. Operating income for the quarter fell 86.8% to $1.2 million.
The company attributed the decrease in operating income to the impairment of goodwill and other intangible assets at SW Financial and inflationary cost increases.
Adjusted EBITDA for the quarter decreased 37.5% to $7.2 million, primarily due to inflationary cost increases.
As of September 30, 2022, the company had total cash availability of $31.0 million, consisting of cash on hand of $4.6 million and cash availability under its various lines of credit of $26.4 million.
Price Action: LIVE shares are trading higher by 1.23% at $24.75 on the last check Thursday.

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