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 impressive financial results for the fiscal year ending September 30, 2021. Revenues reached $273 million, up 42% year-over-year, while gross profit increased 32% to $99.5 million. Operating income rose 75% to $35.8 million, with net income soaring 186% to $31.2 million. Basic EPS was $19.92, a 211% increase. The company acquired Salomon Whitney Financial and boasts total assets of $211.7 million with approximately $35.8 million in cash. Live Ventures ended the year in a strong liquidity position, ready for future investments.
Live Ventures Incorporated (Nasdaq: LIVE) announced it will release its financial results for the fiscal year ending September 30, 2021, on December 22, 2021. The company operates various subsidiaries, including Marquis Industries, which produces residential and commercial carpets, Precision Marshall, a steel manufacturer, and Vintage Stock, an entertainment retailer. With a focus on acquiring profitable companies, Live Ventures aims to enhance its earnings power and contribute positively to local economies.
Live Ventures Incorporated (Nasdaq: LIVE) announced the opening of four new Vintage Stock stores under the EntertainMart brand in Longview and Abilene, Texas; Lincoln, Nebraska; and Idaho Falls, Idaho, starting December 10, 2021. This expansion highlights Vintage Stock's successful business model and customer loyalty, with plans to open five to ten additional locations in 2022. Despite pandemic challenges, the company maintains COVID safety measures and continues to serve customers online. Forward-looking statements indicate growth potential, but risks exist, reflecting a commitment to increasing shareholder value.
Live Ventures Incorporated (Nasdaq: LIVE) reported impressive fiscal Q3 results, with revenue at $69.1 million, up 63%, and net income of $9.9 million, reflecting a 177% increase year-over-year. Basic EPS surged 191% to $6.35. The company achieved an operating income of $8.2 million, a 37% increase, showcasing strong performance across its segments, particularly in retail and flooring manufacturing.
Total cash and cash availability stood at $48.3 million, providing the company with liquidity for future acquisitions and investments.
Live Ventures Incorporated (NASDAQ: LIVE) will host a conference call on August 16, 2021, at 5:00 p.m. ET to discuss its third fiscal quarter business results. The call will feature a brief introduction followed by a Q&A session. Participants can join via U.S. dial-in at (877) 876-9173 or international at +1 (785) 424-1667, using the conference call name 'LIVE VENTURES'. Founded in 1968, Live Ventures focuses on value-oriented acquisitions, operating in sectors like textiles, flooring, tools, and entertainment.
Live Ventures Incorporated (Nasdaq: LIVE) faces SEC charges after a four-year investigation. The company firmly denies all allegations and intends to defend itself vigorously, claiming that these charges distract from its core business. Live Ventures has secured attorney John Hueston for representation and looks forward to court proceedings. The company focuses on acquiring domestic middle-market companies, boasting a portfolio that includes industries such as textiles, flooring, and entertainment, aiming to enhance shareholder value through strategic growth.
Live Ventures (NASDAQ: LIVE) will host a conference call on August 16, 2021, at 5:00 p.m. ET to discuss its third fiscal quarter results for 2021. The company plans to file its Quarterly Report on Form 10-Q for the period ended June 30, 2021, around the same date. Live Ventures is a diversified holding company focused on acquiring middle-market businesses, with a portfolio that includes various industries such as textiles, entertainment, and financial services.
Live Ventures Incorporated (Nasdaq: LIVE) announced an agreement to acquire 100% of Salomon Whitney LLC, a broker-dealer, in an all-cash transaction. The company initially acquired 24.9% of SW Financial on June 14, 2021, with the total acquisition pending regulatory approval. Live Ventures expects this acquisition to boost consolidated revenues by approximately 10% and enhance earnings. The merger aims to diversify Live Ventures' portfolio in the financial services sector, promoting long-term growth through a potential ‘roll-up’ strategy, according to CEO Jon Isaac.
Live Ventures Incorporated (Nasdaq: LIVE) announced plans to reinstate quarterly earnings calls, providing a platform for shareholders and analysts to engage with senior management. The calls are scheduled for mid-February for the fiscal full year/first quarter, mid-May for the second quarter, and mid-August for the third quarter. CEO Jon Isaac emphasized the importance of transparency in communicating capital deployment and business operations. Live Ventures is focused on acquiring profitable companies and has subsidiaries in manufacturing and retail, including Marquis Industries and Vintage Stock.
Live Ventures Incorporated (Nasdaq: LIVE) has extended its stock buyback program until June 1, 2024, allowing for up to $10 million in repurchases. Currently, approximately $6.7 million remains available for buying back shares. Since 2018, the company has repurchased 418,000 shares at an average price of $7.70, with the stock closing at $41.75 prior to this announcement. CEO Jon Isaac emphasized that stock repurchases reflect confidence in the company's prospects and financial health, aiming to enhance shareholder value while being funded by operational cash flow.
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