Liquid Services Sinks After Lowering Forecast
Shares of online auctioneer Liquidity Services (NASDAQ: LQDT) are down around 25 percent on Thursday after the company lowered its full year adjusted earnings forecast for 2013.
Liquidity Services reported adjusted earnings per share for the first-quarter of $0.41 versus $0.37 in last year's corresponding quarter. This came in ahead of consensus EPS estimates of $0.38.
The company lowered its fiscal 2013 outlook to a range of $1.90 to $2.02 from its previous expectations of $2.05 to $2.23. This compares to the current consensus estimate of $2.15.
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