Last $8.55 USD
Change Today +0.31 / 3.76%
Volume 310.4K
LQDT On Other Exchanges
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As of 2:45 PM 12/18/14 All times are local (Market data is delayed by at least 15 minutes).

liquidity services inc (LQDT) Snapshot

Open
$8.40
Previous Close
$8.24
Day High
$8.60
Day Low
$8.18
52 Week High
03/6/14 - $27.33
52 Week Low
12/8/14 - $7.41
Market Cap
255.9M
Average Volume 10 Days
643.6K
EPS TTM
$0.61
Shares Outstanding
29.9M
EX-Date
--
P/E TM
14.0x
Dividend
--
Dividend Yield
--
Current Stock Chart for LIQUIDITY SERVICES INC (LQDT)

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liquidity services inc (LQDT) Details

Liquidity Services Inc. operates an online auction marketplace for wholesale, surplus, and salvage assets primarily in the U.S. and Europe. The Washington-based company organizes products by industry, such as consumer electronics, general merchandise, apparel, scientific equipment, and aerospace parts and equipment, with some 500 categories in all. Its marketplaces provide professional buyers access to a supply of wholesale, surplus, and salvage assets, along with digital images, detailed product description, product manifest, relevant transaction history regarding the seller, shipping weights, product dimensions, and estimated shipping costs. The company runs liquidation.com for corporations and selected federal government agencies; govliquidation.com for selected government agencies; and liquibiz.com for European-based corporations and government agencies. It also operates a wholesale industry portal, goWholesale.com, that connects advertisers with buyers seeking products for resale and related business services. The company offers a suite of integrated sales, marketing, merchandising, fulfillment, payment collection, dispute mediation, and logistics services. The company was founded in 1999 as Liquidation.com.

1,345 Employees
Last Reported Date: 11/21/14
Founded in 1999

liquidity services inc (LQDT) Top Compensated Officers

Co-Founder, Chairman, Chief Executive Officer...
Total Annual Compensation: $600.0K
Chief Financial Officer, Treasurer and Presid...
Total Annual Compensation: $320.8K
Executive Vice President of Federal Sector
Total Annual Compensation: $306.3K
Executive Vice President, General Counsel and...
Total Annual Compensation: $267.8K
Chief Information Officer
Total Annual Compensation: $271.2K
Compensation as of Fiscal Year 2013.

liquidity services inc (LQDT) Key Developments

Wal-Mart Terminates Merchandise Salvage Contract with Liquidity Services

Wal-Mart Stores Inc., on Dec. 1, 2014, provided Liquidity Services Inc. written notice terminating its master merchandise salvage contract, or the Wal-Mart agreement, with the company, effective Dec. 8, 2014. The termination notice alleges that the company failed to comply with certain provisions under the Wal-Mart agreement with respect to service level requirements and restrictions on the disposition of merchandise. Liquidity Services disputes these allegations and is contesting the termination of the agreement with Wal-Mart. The company had been in talks with Wal-Mart to address Wal-Mart's failure to honor the company's exclusive right to purchase selected merchandise from Wal-Mart but was unable to reach a satisfactory resolution.

Liquidity Services Reports 2-Month Extension of U.S. DoD Contract

Liquidity Services (LQDT) reported the U.S. Department of Defense Logistics Agency has extended its contract with LQDT for two months, through Feb. 13, 2015. During this period, the DoD will continue to use LQDT as its primary sales channel for the disposition of surplus property. Under the contract, LQDT manages the receipt, storage, and disposition of all usable surplus personal property generated by DoD installations in the United States.

Liquidity Services, Inc. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended September 30, 2014; Provides Earnings Guidance for the First Quarter of Fiscal 2015 and Capex Guidance for Fiscal 2015

Liquidity Services, Inc. reported unaudited consolidated financial results for the fourth quarter and full year ended September 30, 2014. The company reported consolidated fourth quarter revenue of $118.4 million, a decrease of approximately 8% from $129.13 million for the prior year's comparable period. Adjusted EBITDA was $9.1 million, a decrease of approximately 64% from the prior year's comparable period. Net loss was $0.7 million or $0.02 diluted earnings per share against income of $10.4 million or $0.32 diluted earnings per share for the same period of last year. Adjusted net income in was $4.0 million or $0.13 adjusted diluted earnings per share based on 29.7 million fully diluted shares outstanding, a decrease of approximately 70% and 67%, respectively, from the prior year's comparable period. Income from operations was $523,000 against $17,207,000 for the same period of last year. Income before provision for income taxes from operations was $450,000 against $17,138,000 for the same period of last year. Net cash provided by operating activities was $6,762,000 against $29,918,000 for the same period of last year. Purchases of property and equipment was $1,045,000 against $1,554,000 for the same period of last year. Capital expenditures were $1 million. The company reported consolidated fiscal 2014 revenue of $495.7 million, a decrease of approximately 2% from $505.86 million for the prior year. Adjusted EBITDA, which excludes stock-based compensation, acquisition costs including changes in acquisition earn out payment estimates, and business realignment expense, was $63.0 million, a decrease of approximately 40% from the prior year. Net income was $30.4 million or $0.97 diluted earnings per share against income of $41.1 million or $1.26 diluted earnings per share for the same period of last year. Adjusted net income, which excludes stock-based compensation, acquisition costs including changes in acquisition earn out payment estimates, amortization of contract-related intangible assets associated with the Jacobs Trading acquisition, and business realignment expense -- net of tax, was $32.4 million or $1.03 adjusted diluted earnings per share based on 31.4 million fully diluted shares outstanding, a decrease of approximately 43% and 41%, respectively, from the prior year's comparable period. Income from operations was $50,417,000 against $67,951,000 for the same period of last year. Income before provision for income taxes from operations was $50,047,000 against $68,655,000 for the same period of last year. Net cash provided by operating activities was $11,856,000 against $46,743,000 for the same period of last year. Purchases of property and equipment was $7,539,000 against $5,463,000 for the same period of last year. Capital expenditures were $7.5 million. The company expects adjusted EBITDA for the first quarter of 2015 to range from $10.0 million to $13.0 million. Estimates adjusted earnings per diluted share to range from $0.16 to $0.22. This guidance assumes that it had an average fully diluted number of shares outstanding for the quarter of 29.8 million, and that it will not repurchase shares with the approximately $5.1 million yet to be expended under the share repurchase program. The guidance adjusts EBITDA and Diluted EPS for: acquisition costs including transaction costs and changes in earn out estimates; amortization of contract related intangible assets of $33.3 million from acquisition of Jacobs Trading; and for stock based compensation costs, which it estimates to be approximately $3.5 million to $4.0 million per quarter for fiscal year 2015. For fiscal 2015, the company expects capex from $7 million and $8 million.

 

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Price/Earnings 8.5x
Price/Sales 0.5x
Price/Book 0.8x
Price/Cash Flow 5.2x
TEV/Sales 0.4x
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