|[January 16, 2013]
Liquidity Services, Inc. Provides Preliminary Q1-FY2013 Gross Merchandise Volume Results; Reaffirms Q1-FY2013 Earnings Guidance; Announces Quarterly Earnings Call
WASHINGTON --(Business Wire)--
Liquidity Services (News - Alert), Inc. (NASDAQ: LQDT), a leading online auction
marketplace for surplus and salvage assets, announced today preliminary
Gross Merchandise Volume (GMV (News - Alert)) 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 (News - Alert), 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.
Investors and other interested parties may access the earnings call
teleconference on January 31, 2013 by dialing 866-713-8567 or
617-597-5326 and providing the participant pass code 55758425. A live
web cast of the conference call will be provided on the Company's
investor relations website at www.liquidityservicesinc.com/investors.
An archive of the web cast will be available on the Company's website
for 30 calendar days ending March 2, 2013 at 11:59 p.m. ET. An audio
replay of the teleconference will also be available until March 2, 2013
at 11:59 p.m. ET. To listen to the replay, dial 888-286-8010 or
617-801-6888 and provide pass code 36221612. Both replays will be
available starting at 12:30 p.m. on the day of the call.
About Liquidity Services, Inc.
Liquidity Services, Inc. (NASDAQ: LQDT) provides leading corporations,
public sector agencies and buying customers the world's most
transparent, innovative and effective online marketplaces and integrated
services for surplus assets. On behalf of its clients, Liquidity
Services has completed the sale of over $3.3 billion of surplus,
returned and end-of-life assets, in over 500 product categories,
including consumer goods, capital assets and industrial equipment. The
company is based in Washington, D.C. and has nearly 1,300 employees.
Additional information can be found at: http://www.liquidityservicesinc.com.
The financial information set forth in this press release reflects our
current estimates, is subject to the completion of our quarterly review
process and is subject to change.
This document contains forward-looking statements made pursuant to the
Private Securities Litigation Reform Act of 1995, including, without
limitation, statements regarding the potential benefits and impact on
fiscal 2013 operating results. The outcome of the events described in
these forward-looking statements is subject to known and unknown risks,
uncertainties and other factors that may cause our actual results to
differ materially from any future results expressed or implied by these
forward-looking statements. You can identify forward-looking statements
by terminology such as "expects," or the negative of these terms or
other comparable terminology. We cannot guarantee future results, levels
of activity, performance or achievements. There are a number of risks
and uncertainties that could cause our actual results to differ
materially from the forward-looking statements contained in this
document. Important factors that could cause our actual results to
differ materially from those expressed as forward-looking statements are
set forth in the Company's Annual Report on Form 10-K for the fiscal
year ended September 30, 2012, including, but not limited to, those set
forth in Item IA (Risk Factors). There may be other factors of which we
are currently unaware that may cause our actual results to differ
materially from the forward-looking statements. All forward-looking
statements apply only as of the date of this document and are expressly
qualified in their entirety by the cautionary statements included in
this document. Except as may be required by law, we undertake no
obligation to publicly update or revise any forward-looking statement
occurring after the date of this document.
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