Liquidity Services Reports Prelim. Q1 GMV ~$234M, Below Prior Range; Reaffirms Q1 EPS, EBITDA Outlook
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.
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