Liquidity Services, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023
August 03, 2023 at 06:45 am EDT
Share
Liquidity Services, Inc. reported earnings results for the third quarter and nine months ended June 30, 2023. For the third quarter, the company reported sales was USD 42.81 million compared to USD 35.51 million a year ago. Revenue was USD 80.77 million compared to USD 69.87 million a year ago. Net income was USD 6.49 million compared to USD 16.41 million a year ago. Basic earnings per share from continuing operations was USD 0.21 compared to USD 0.51 a year ago. Diluted earnings per share from continuing operations was USD 0.21 compared to USD 0.5 a year ago.
For the nine months, sales was USD 128.72 million compared to USD 109.11 million a year ago. Revenue was USD 234.51 million compared to USD 204.85 million a year ago. Net income was USD 14.7 million compared to USD 31.98 million a year ago. Basic earnings per share from continuing operations was USD 0.47 compared to USD 0.98 a year ago. Diluted earnings per share from continuing operations was USD 0.46 compared to USD 0.94 a year ago.
Liquidity Services, Inc. is a global commerce company. It operates a business to business (B2B) e-commerce marketplace platform for surplus assets. Its segments include GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG) and Machinio. The GovDeals segment provides solutions that enable government entities including city, county, state and federal agencies located in the United States and Canada and related commercial businesses to sell surplus property and real estate assets through its GovDeals and Bid4Assets marketplaces. The RSCG segment consists of marketplaces that enable corporations located in the United States and Canada to sell excess, returned, and overstocked consumer goods. The CAG segment offers solutions to sellers and consists of marketplaces that enable commercial businesses to sell surplus assets. Machinio segment operates a search engine platform for listing used equipment for sale in the construction, machine tool, printing and agriculture sectors.