Liquidity Services, Inc. (NASDAQ:LQDT), a global solutions provider in the reverse supply chain with leading online marketplaces for surplus assets, today announced that it has been awarded a follow-on contract by the U.S. Defense Logistics Agency (DLA) to extend the terms of its current Surplus Contract for the disposition of usable surplus property from the U.S. Department of Defense. Under the follow-on contract, which commences February 14, 2014, Liquidity Services’ performance period has been extended by a base term of 10 months with two one-month additional option periods. All other terms, including pricing, will remain consistent with the prior Surplus Contract.
The principal terms of the follow-on Surplus Contract agreement are described in a Form 8-K to be filed with the SEC on Tuesday, January 21, 2014.
Liquidity Services does not believe the follow-on Surplus Contract will have a material effect on its fiscal year 2014 results.
About Liquidity Services, Inc.Liquidity Services, Inc. (NASDAQ: LQDT) provides leading corporations, public sector agencies, and buying customers the world's most transparent, innovative, and effective online marketplaces and integrated services for surplus assets. On behalf of its clients, Liquidity Services has completed the sale of over $4.3 billion of surplus, returned, and end-of-life assets in over 500 product categories, including consumer goods, capital assets, and industrial equipment. The company is based in Washington, D.C. and has approximately 1,300 employees. Additional information can be found at: http://www.liquidityservices.com. FORWARD LOOKING STATEMENTS This document contains forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. These statements are only predictions. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These statements include, but are not limited to, statements regarding the Company’s business outlook and expected future effective tax rates. You can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continues" or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.
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