WASHINGTON–(BUSINESS WIRE)–
Ranked by Forbes Magazine, Liquidity Services Inc. (LSI), is one
of America’s 200 Best Small Companies. As the leading online auction
marketplace for wholesale surplus and salvage assets, LSI ranks #26 on
this year’s list as a result of its strong performance over the past
twelve month and five year periods. LSI’s growth stems from increased
demand for the company’s online auction marketplaces and related
services to help large retailers, manufacturers and government
agencies sell large volumes of surplus and end-of-life assets to a
global and professional buyer base.
“We are honored to be recognized by Forbes Magazine for the
outstanding growth we have achieved,” said Bill Angrick, Chairman and
CEO of LSI. “This is a tribute to our dedicated employees who have
developed an innovative online marketplace that provides sellers and
buyers with greater returns and efficiencies for the purchase and sale
of surplus goods. By aggregating a critical mass of professional
buyers, we are able to better serve our sellers who in turn supply
increasing volumes of merchandise that is attractive to our buyer
audience. This self-reinforcing growth dynamic is important to our
success and demonstrates the value of our solution to both buyers and
sellers of wholesale surplus and salvage assets.”
Total sales, or Gross Merchandise Volume (GMV) across LSI’s
marketplaces including www.liquidation.com, www.govliquidation.com,
www.govdeals.com and www.liquibiz.com, have grown 225% over the past
five fiscal years from $72 million in 2002 to $234 million in 2007.
During the 12 months ended June 30, 2008, LSI recorded GMV of $318
million, or approximately 67% growth versus the prior year period. In
addition, LSI has achieved 23 consecutive quarters of profitability.
To qualify for the Forbes list of America’s 200 Best Small
Companies, companies must be publicly traded, have sales between $5
million and $750 million and a stock price of $5 as of Sept. 29, 2008.
The ranking is based on return on equity, sales growth and profit
growth over the past 12 months and also over five years. Forbes also
compares a company’s stock performance with that of its industry
peers. The shares of the companies on the 2007 list fell 15% on
average over the past year, slightly outperforming the Russell 2000.
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 685 employees. Additional information can be
found at: www.liquidityservicesinc.com.
Source: Liquidity Services Inc.
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