Liquidity Services Has Record Year

D.C.-based Liquidity Services Inc. just closed on a record fiscal year and said it expects its surplus goods auction business will see total sales volume top $1 billion next year. The company, which sells and auctions off surplus merchandise and goods for both commercial and government customers, had fiscal fourth-quarter revenue of $123.3 million, up 52 percent from a year ago. Net income was $5.5 million, or 17 cents per share, compared with $3.1 million, or 10 cents per share. Total sales volume of all merchandise sold through the company’s marketplaces was $241 million last quarter, up 65 percent from a year ago. For fiscal 2012, Liquidity Services had $475.3 million in revenue, up 41 percent, and merchandise disposed of totaled $864.2 million. It forecasts merchandise sales volume to reach $1.1 billion to $1.2. billion in fiscal 2013. Liquidity Services (NASDAQ: LQDT) has grown through acquisitions and an increase in demand for disposing of surplus and returned merchandise. The company has about 1,100 employees, including 130 working in Washington.

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