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Thursday, January 18, 2018 10:56:01 AM
Live Ventures Incorporated (Nasdaq:LIVE), a diversified holding company, today announced financial results from its fiscal year ended September 30, 2017.
Reporting its most successful year in the company’s history, Live Ventures reported a record $152.0 million in revenues, an increase of 92.6 percent over the previous fiscal year.
Stockholders’ equity, management’s preferred measurement for performance, increased by 39 percent year-over-year. Since present management took over six years ago, stockholders’ equity has grown at a rate of 88.6 percent compounded annually.
Key highlights from 2017 include:
•Record revenues of $152.0 million, up 92.6 percent over the last fiscal year
•Gross profit up 213.2 percent to $62.5 million
•Operating Income up 680.7 percent to $18.1 million
•Total assets of $129 million
•Earnings per Share (EPS) up 988 percent when excluding one-time, non-cash gains from deferred tax asset and bargain purchase gain booked in the 2016 fiscal year, to $2.94 per basic common share
•Earnings before interest, taxes, depreciation and amortization (EBITDA) of $23.21 million
•Completed the acquisition of Vintage Stock Inc., a 57-store retail chain
•Reduced total outstanding basic shares to 1,991,879
•Repurchased 66,185 shares during the fiscal year
•Obtained dismissal of class action and derivative lawsuits (December 2017)
“We expect our numbers to further improve in fiscal year 2018 as a result of additional capital expenditures at Marquis Industries, operational improvements and new store openings at Vintage Stock. We also believe that the financial results from ApplianceSmart, which we recently entered into an agreement to acquire, will aid in improving our fiscal year 2017 results in 2018,” said Jon Isaac. “I personally thank Mr. Rodney Spriggs of Vintage Stock, Mr. Tim Bailey of Marquis Industries and all 1,400 company employees nationwide for these terrific results.”
"LIVE A LOT, TO LIVE A LITTLE...LIVE A LITTLE, TO LIVE A LOT." - SP
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