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Liquidity Services Management Discusses Q3 2012 Results - Earnings Call Transcript

During the quarter, we enjoyed broad-based organic growth as we expanded our market share within both the commercial and public sector market. Our value proposition is resonating with retailers, manufacturers and public sector agencies, which is reinforcing our network effect and resulting in new client wins in the reverse supply chain market. Our team has done an excellent job handling our increased volumes while maintaining a high level of service and quality to our clients and buying customers. Our consistent execution has enabled Liquidity Services to become the trusted provider of choice in our industry with over 75 Fortune 500 corporations; over 4,700 federal, state and local government agencies; and over 1.8 million registered buyers utilizing our marketplaces.

As evidence of our customer focus, Liquidity Services was recently selected to receive the prestigious Vendor Excellence Award for Large Business by the U.S. Defense Logistics Agency for our work supported the DoD's surplus sales program. This is our second DLA award in as many years and fourth overall, and demonstrates our unwavering commitment to relentless improvement and client service.

During the quarter, we also continue to drive innovation to support our market leadership position as we rolled out our next-generation BUX technology on our award-winning government liquidation marketplace. Our BUX technology enables the seamless cross listing of relevant client assets on the website, to further monetize our buyer base, provide enhanced merchandising options, such as the use of streaming video, improve the overall experience in managing their account and finding desired assets and it supports the rendering of our marketplace on mobile devices.

Following its initial introduction to our and government marketplaces, our proprietary BUX platform now covers approximately 70% of our user base and is just one recent example of how we leverage technology to improve the operational efficiency, reliability and scalability of our business.

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