Live Ventures Announces Record Financial Results for Second Fiscal Quarter 2018

Live Ventures Incorporated (NASDAQ:LIVE), a diversified holding company announced financial results for its second fiscal quarter which ended March 31, 2018.

The company reported record quarterly revenue of $52.2 million representing an increase of 35.3 percent and basic EPS of $0.98 representing an increase of 10.1 percent over the same period.

Live Ventures has two main subsidiaries, Marquis Industries and Vintage Stock, an award winning entertainment retailer in United States.

As quoted in the press release:

The company’s results for the second fiscal quarter 2018 include those of ApplianceSmart, which was acquired in the first fiscal quarter.

The company reported total assets of $137.3 million and record stockholders’ equity of $37.1 million as of the end of the fiscal quarter, representing an increase of 20.1 percent over the same period last year.

Key highlights of the second fiscal quarter 2018 compared to the same period last year include:

• Revenues of $52.2 million, up 35.3 percent
• Gross profit of $19.7 million, up 19.3 percent
• Basic earnings per share of $0.98, up 10.1 percent
• Non-GAAP EBITDA of $5.5 million
• Total assets of $137.3 million
• 1,962,136 outstanding shares of common stock as of March 31, 2018, compared to 2,058,064 as of March 31, 2017

Net cash flow from operating activities for the six months ended March 31, 2018 compared to the six months ended March 31, 2017 totaled $6.6 million, up 93.6 percent.

Cash availability, representing cash on hand and available credit on the company’s revolving lines of credit, was $16.1 million.

“Our second fiscal quarter of 2018 year over year results continue to provide positive double-digit growth in earnings, cashflows and shareholder value.  Our liquidity in the form of cash on hand and available credit on the company’s lines of credit provides the company with sufficient runway for operations and growth.   LIVE continues to deliver where it counts, consistent growing shareholder value,” said Virland Johnson, CFO of Live Ventures.

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