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Thursday, February 12, 2015 9:12:09 AM
LIVE- NEWS ALERT!! LiveDeal Inc. Announces Largest Quarterly Sales and Biggest Increase in Revenue in Company History
Date : 02/12/2015 @ 9:00AM
LAS VEGAS, NV, Feb. 12, 2015 /PRNewswire/ - LiveDeal Inc. (NASDAQ:LIVE) ("LiveDeal" or the "Company"), a publicly traded company that operates livedeal.com, a geo-location based mobile marketing platform that enables restaurants to publish "real-time" and "instant offers" to nearby consumers, today announces first quarter financial results from its fiscal first quarter, which ended December 31, 2014.
The company's revenues for Q1 2015 were $8 million, an increase of about 1,250 percent over the same period the year prior. This figure represents not only a record for quarterly revenues, but was higher than the entire fiscal year of 2014 and higher than any other quarter in the Company's history.
Other highlights include:
Nearly 1,000 percent increase of gross profit, compared to the same time period the previous year
The company's cash position continues to be strong, with $6.5 million in cash and cash equivalents, compared to $8.1 million from the previous quarter
A large portion of cash was used to finance the purchase of approximately $3.6 million in inventories
The company has put significant resources into advertising and marketing
"The beginning of fiscal year 2015 has been incredible for LiveDeal, as we have achieved revenues during these three months that have surpassed our revenues during 2014. We believe this can be attributed to the groundwork laid during the last fiscal year, including revenues from our newly acquired subsidiaries, as well as a significant increase in our efforts to raise awareness of LiveDeal through consumer advertising," said Jon Isaac, CEO of LiveDeal Inc. "We anticipate the continued upward trend in our revenue growth, as we strategically execute on our business plans to ensure that we are leaders in the industry while providing optimum shareholder value."
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Date : 02/12/2015 @ 9:00AM
LAS VEGAS, NV, Feb. 12, 2015 /PRNewswire/ - LiveDeal Inc. (NASDAQ:LIVE) ("LiveDeal" or the "Company"), a publicly traded company that operates livedeal.com, a geo-location based mobile marketing platform that enables restaurants to publish "real-time" and "instant offers" to nearby consumers, today announces first quarter financial results from its fiscal first quarter, which ended December 31, 2014.
The company's revenues for Q1 2015 were $8 million, an increase of about 1,250 percent over the same period the year prior. This figure represents not only a record for quarterly revenues, but was higher than the entire fiscal year of 2014 and higher than any other quarter in the Company's history.
Other highlights include:
Nearly 1,000 percent increase of gross profit, compared to the same time period the previous year
The company's cash position continues to be strong, with $6.5 million in cash and cash equivalents, compared to $8.1 million from the previous quarter
A large portion of cash was used to finance the purchase of approximately $3.6 million in inventories
The company has put significant resources into advertising and marketing
"The beginning of fiscal year 2015 has been incredible for LiveDeal, as we have achieved revenues during these three months that have surpassed our revenues during 2014. We believe this can be attributed to the groundwork laid during the last fiscal year, including revenues from our newly acquired subsidiaries, as well as a significant increase in our efforts to raise awareness of LiveDeal through consumer advertising," said Jon Isaac, CEO of LiveDeal Inc. "We anticipate the continued upward trend in our revenue growth, as we strategically execute on our business plans to ensure that we are leaders in the industry while providing optimum shareholder value."
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