Live Ventures Registers ~5% Revenue Growth In Q4
- Live Ventures Inc (NASDAQ: LIVE) reported fourth quarter FY22 sales growth of 4.6% year-on-year to $73.78 million.
- Revenue from Retail fell 3.7% Y/Y, Flooring Manufacturing climbed 0.7%, and Steel Manufacturing jumped 50.9%.
- EPS loss for the quarter was $(0.20) versus $2.23 profit a year earlier.
- Gross profit declined 10.6% Y/Y to $22.9 million. Operating income for the quarter fell 86.8% to $1.2 million.
- The company attributed the decrease in operating income to the impairment of goodwill and other intangible assets at SW Financial and inflationary cost increases.
- Adjusted EBITDA for the quarter decreased 37.5% to $7.2 million, primarily due to inflationary cost increases.
- As of September 30, 2022, the company had total cash availability of $31.0 million, consisting of cash on hand of $4.6 million and cash availability under its various lines of credit of $26.4 million.
- Price Action: LIVE shares are trading higher by 1.23% at $24.75 on the last check Thursday.
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