Live Ventures Announces First Quarter 2022 Financial Results

About this update from Live Ventures Incorporated

[{"type":"text","content":"LAS VEGAS, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Live Ventures Incorporated (Nasdaq: LIVE), a diversified holding company, today announced financial results for its first quarter ended December 31, 2021. Q1 FY2022 Key Highlights: Revenues of $75.2 million increased 20.3% over the prior year period;Gross profit of $27.6 million increased 24.0% over the prior year period;Operating income of $10.4 million increased 42.7% over the prior year period;Interest Expense of $1.0 million decreased 30.8% over the prior year period;Net income of $6.5 million increased 24.0% over the prior year period;Adjusted EBTIDA1 of $12.1 million increased 21.9% over the prior year period;Q1 2022 Basic and Fully Diluted EPS were $4.14 and $2.04, respectively, increased 20.0% and 25.4%, respectively, over the prior year period;Total assets of $219.0 million; andApproximately $38.8 million of cash and availability under our credit facilities. “I continue to be pleased with the result of Live Ventures’ efforts, as demonstrated by our strong financial performance for the first fiscal quarter of this year,” Jon Isaac, President and CEO of Live Ventures commented. “Live Ventures has continued to execute upon its strategic plan, deliver meaningful financial results, and demonstrate resiliency in uncertain times.” Live Ventures reported revenues of $75.2 million, and basic earnings per share (“EPS”) of $4.14, which represents an increase of 20.3% and 20.0%, respectively, over the prior year period. The company also reported operating income of $10.4 million and net income of $6.5 million, representing an increase of 42.7% and 24.0%, respectively, over the same period last year. Net income for the quarter includes approximately $0.8 million from SW Financial, which is included as part of the company’s Corporate & other segment. As of December 31, 2021, the company reported total assets of $219.0 million, and total cash and cash availability under its various lines of credit of $38.8 million. Stockholders’ equity attributable to Live Ventures’ stockholders was approximately $82.1 million as of December 31, 2021. Each of the company’s three main reporting segments continued to demonstrate meaningful growth on a topline and operating income basis compared to the prior year period. “We started our fiscal 2022 in a fantastic position with each of our diverse reporting seg...

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