Washington Business Journal Recognizes LSI’s Growth for Third Consecutive YearWASHINGTON, Oct 05, 2009 (BUSINESS WIRE) — Liquidity Services Inc. (LSI), a leading online auction marketplace for
wholesale surplus and salvage assets, was recognized by The Washington
Business Journal as one of the 50 Fastest Growing Companies in Greater
Washington. Recognized for the third consecutive year, LSI received the
honor at an evening awards reception held October 1, 2009 at the
Carnegie Institution for Science in Washington, DC.
LSI achieved over 33% annual revenue growth from 2006 -2008 as a result
of increased demand for its online auction marketplaces and related
services for commercial and government clients. In addition to revenue
growth, LSI grew its Gross Merchandise Volume (GMV), or total sales
across its marketplaces, from $173 million in 2006 to $360 million in
2008, an annual growth rate of 44%. During the 12 months ended June 30,
2009, LSI recorded GMV of $363 million and attracted over 200,000 new
registered buyers to achieve a critical mass of nearly two million
auction participants bidding for inventory across its marketplaces
including www.liquidation.com,
www.govliquidation.com,
www.govdeals.com
and www.liquibiz.com.
“LSI’s outstanding growth demonstrates that large organizations are
increasingly relying on our online marketplace and integrated services
to realize greater returns and efficiencies in the tracking and sale of
surplus and end-of-life assets,” said Bill Angrick, Chairman and CEO of
LSI. “Our team continues to strengthen LSI’s customer value proposition
and grow our market share in the commercial, government and
international market sectors, especially in light of the economic
environment of the past year. Our online marketplaces, such as www.liquidation.com,
www.govliquidation.com,
www.govdeals.com
and www.liquibiz.com
, offer small business and value-conscious consumers the opportunity to
easily find and bid on merchandise and equipment in over 500 product
categories.”
The Washington Business Journal selected companies based upon average
three-year revenue-growth percentage. In addition to high growth rates,
companies must have had 2006 revenue of more than $2 million and 2008
revenue of more than $10 million in order to be eligible. Participants
in the survey were based in the metropolitan Washington D.C. region.
About Liquidity Services, Inc. (LQDT)
Liquidity Services, Inc. (NASDAQ:LQDT) and its subsidiaries enable
corporations and government agencies to market and sell surplus assets
and wholesale goods quickly and conveniently using online auction
marketplaces and value-added services. The company is based in
Washington, D.C. and has over 650 employees. Additional information can
be found at: www.liquidityservicesinc.com.
SOURCE: Liquidity Services Inc. (LSI)
Liquidity Services Inc. (LSI)
Julie Davis, 202-558-6234
[email protected]
Comments are closed.