Welcome to our dedicated page for Live Ventures news (Ticker: LIVE), a resource for investors and traders seeking the latest updates and insights on Live Ventures stock.
Live Ventures Inc (NASDAQ: LIVE) is a diversified holding company focused on acquiring and managing profitable, stable, and growing companies across various industries. Established in 1968 as Nuclear Corporation of New Mexico, the company has undergone significant transformations, including a rebranding from LiveDeal, Inc. in 2011 under the strategic leadership of CEO Jon Isaac.
Live Ventures' core business segments include:
- Retail: This segment involves direct sales of entertainment products, appliances, and services through its subsidiary Vintage Stock, which operates 72 retail stores and a comprehensive e-commerce platform.
- Flooring Manufacturing: The company produces carpets, rugs, and yarn products, and resells hard surface flooring products through brands under Harris Flooring Group.
- Steel Manufacturing: Live Ventures manufactures and sells steel products such as plates, ground flat stock, and drill rods through its acquired subsidiaries, including Precision Metal Works and The Kinetic Co., Inc.
- Corporate and Other: This segment includes various corporate functions and other smaller business operations.
Recent achievements include the strategic acquisitions of Flooring Liquidators and Precision Metal Works, significantly boosting revenue. In the fiscal first quarter of 2024, Live Ventures reported a 70.5% increase in revenue, driven primarily by these acquisitions. However, the company faced challenges with lower profit margins and higher administrative expenses, resulting in a net loss of approximately $0.7 million for the quarter.
Live Ventures continues to execute its 'buy-build-hold' strategy, aiming for long-term value creation through disciplined acquisitions and operational improvements. The company maintains strong relationships with high-profile customers, particularly in the data and telecommunications sectors, positioning itself for sustained growth despite industry-specific pressures.
For more information, visit the Live Ventures Inc. website.
Live Ventures Incorporated (Nasdaq: LIVE) reported its fiscal Q1 2023 results, revealing revenues of $69.0 million, an 8.2% decline from the previous year. Adjusted EBITDA dropped 37.7% to $7.5 million, while net income fell 71.8% to $1.8 million, resulting in diluted EPS of $0.60, down 70.6%. The company repurchased 24,710 shares at an average price of $25.16. Live Ventures acquired Flooring Liquidators for $84 million, contributing approximately $125 million in additional revenue annually. Despite macroeconomic challenges, the company aims to enhance operational excellence and shareholder value.
Live Ventures Incorporated (NASDAQ: LIVE) will release financial results for its fiscal first quarter ending December 31, 2022, on February 9, 2023, prior to the NASDAQ market opening. A conference call to discuss these results is scheduled for the same day at 2:00 p.m. Pacific Time. Interested parties can join via dial-in numbers, with a conference ID of LIVEVENTURE. Live Ventures is a diversified holding company focusing on value-oriented acquisitions across various sectors, including textiles and entertainment. The company seeks to enhance shareholder value through strategic partnerships and long-term investment.
Live Ventures Incorporated (Nasdaq: LIVE) announced the opening of its 70th store under the Vintage Stock brand in Boise, ID. The new EntertainMart location is situated in the Boise Town Square Mall and marks Vintage Stock's third store in Idaho. Vintage Stock is known for its diverse range of entertainment products including new and pre-owned movies, video games, and collectibles.
CEO Rodney Spriggs expressed excitement over the expansion, highlighting the demand for a wide variety of entertainment products at a single location. The company aims to provide an enjoyable experience for customers amidst challenging retail conditions.
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