Live Ventures Incorporated (NASDAQ: LIVE)
Live Ventures News
On Wednesday before the market opened, Live Ventures ($LIVE) announced record earnings to end its most successful year since the company started. They reported $79 million in revenues for the year with a net profit of $17.82 million, or $8.92 EPS. Revenues increased by over 136% along with stockholder’s equity which grew 192%.
Management also expects positive growth in 2017 with forecasts of 50% or more in revenue growth and stockholder’s equity to grow by double-digit numbers. The company also noted that they are actively looking at acquisitions which could even further improve revenue numbers for 2017.
Looking at LIVE’s daily chart you will see that shares have been on very strong uptrend that started back in November as it broke through resistance at $12.50. Following their earnings results shares spiked in the pre-market to $35.50 which is a 36% increase from Tuesday’s close of $26.09. Shares pulled in from highs and opened the day at $31.32 with a large range between $33 and $29. If you’re looking to trade LIVE make sure to use hard stops as it will be much more volatile with larger spreads than normal.
“Live Ventures has truly come a long way since its founding in 1968, when we were known as Nuclear Corporation of New Mexico,” said Jon Isaac, CEO of Live Ventures Incorporated. “We are elated with these most recent results and are grateful for the hard work of our employees, who were essential to the Company’s recent success.” – LiveVentures
Live Ventures Incorporated, formerly LiveDeal, Inc., is a holding company. The Company offers LiveDeal.com, a real-time deal engine that connects restaurants across the United States and consumers via a platform. The Company operates in three segments: legacy merchant’s services; online marketplace platform, and manufacturing. The legacy merchants’ services segment consists of local exchange carrier (LEC) and Velocity Local. The online marketplace platform segment consists of LiveDeal.com and various consumer products entities. The manufacturing segment includes the operations of Marquis Industries, Inc. (Marquis Industries). Marquis Industries is a carpet manufacturer and a manufacturer of yarn products, as well as a reseller of hard surface flooring products. LiveDeal.com provides marketing solutions to restaurants to boost customer awareness and merchant visibility on the Internet. –GoogleFinance