Business

Live Ventures Incorporated (NASDAQ:LIVE) released financial results

Live Ventures Incorporated (NASDAQ:LIVE) spotted trading -35.01% off 52-week high price. On the other end, the stock has been noted 3.19% away from the low price over the last 52-weeks. The stock changed -2.18% to recent value of $5.83. The stock transacted 6164 shares during most recent day however it has an average volume of 5.72K shares. The company has 1.80M of outstanding shares and 1.46M shares were floated in the market.  

On Feb.10, 2020, Live Ventures Incorporated (NASDAQ:LIVE) a diversified holding company, released financial results for the fiscal year 2019, which ended September 30, 2019.  The company reported revenue of approximately $193 million and total assets of $122 million. The company repurchased a record 119,238 shares of common stock during the fiscal year.

While both Marquis Industries and Vintage Stock performed reasonably well and were profitable during the fiscal year, ApplianceSmart contributed an operational loss of $11.8 million and a $2.6 million impairment charge relating to the Chapter 11 filing and store closures during the prior fiscal year.  Total losses for the ApplianceSmart business, net of taxes, was, and reduced income generated by the company’s other subsidiaries by, approximately $14.4 million.  Overall, the company reported consolidated net loss of $4 million, or $2.11 in loss per basic common share.  The company expects that any future extinguishment of ApplianceSmart indebtedness resulting from the Chapter 11 proceeding will be reflected as a non-cash gain of extinguishment and/or settlement of debt and other liabilities in the company’s future financial statements.

Despite the consolidated net loss for the year, gross profit for the fiscal year was $70 million and cash from operations increased from the prior fiscal year by approximately $7 million, or 61%, to $19 million.  Interest expense decreased by over $2 million or 27% compared to the prior fiscal year due to the $17 million decrease in outstanding debt.

 Its earnings per share (EPS) expected to touch remained -188.20% for this year. LIVE has a gross margin of 36.70%.

 According to the most recent quarter its current ratio was 1.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of -18.21% from the mean of 20 days, -22.14% from mean of 50 days SMA and performed -21.88% from mean of 200 days price. Company’s performance for the week was -13.63%, -24.29% for month and YTD performance remained -22.37%.

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