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Liquidity Services, Inc. Provides Preliminary Q1-FY2013 Gross Merchandise Volume Results; Reaffirms Q1-FY2013 Earnings Guidance; Announces Quarterly Earnings Call

Stocks in this article: LQDT

Liquidity Services, Inc. (NASDAQ: LQDT), a leading online auction marketplace for surplus and salvage assets, announced today preliminary Gross Merchandise Volume (GMV) 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, 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.

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