Liquid Services Sinks After Lowering Forecast

Shares of online auctioneer Liquidity Services

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.