WASHINGTON – September 26, 2011 – Liquidity Services, Inc. (NASDAQ: LQDT) has been recognized by the Washington Business Journal on its annual list of the 10 Top Performing CEOs in the Greater Washington, DC area. Liquidity Services has achieved 35 consecutive quarters of profitability resulting in a Return on Shareholder Equity of 10.75 percent over the past five years, ranking as the ninth best performer on this year’s list.
Liquidity Services, which provides leading corporations, public sector agencies and buying customers the world’s most transparent, innovative and effective online marketplaces and integrated services for surplus assets, increased its topline sales (Gross Merchandise Volume or “GMV”) by 21% from its fiscal year 2009 to fiscal year 2010, and is up 34% year-over-year for the nine months ended June 30 of its fiscal year 2011. The Company’s growth stems from increased demand from commercial and government sellers, favorable product mix across capital assets and retail goods, and associated operating leverage.
“Liquidity Services’ outstanding growth demonstrates that large organizations are increasingly relying on our online platform and service offerings to realize greater returns and efficiencies in the tracking and sale of surplus assets and end-of-life equipment,” said Bill Angrick, Chairman and CEO of Liquidity Services. “This growth has helped generate strong financial results for our shareholders, and we are continuing to invest in our business to capture even greater market share both in the commercial and public sectors, while having a positive impact on our clients financial and environmental sustainability initiatives.”
The Washington Business Journal’s list of top-performing public company CEOs is ranked by the five-year average return on equity (Return on equity is calculated by dividing net income by shareholder equity). All CEOs included on the list have been in their position for at least five years, and only CEOs at public companies headquartered in the Washington region qualified for the list.
About Liquidity Services, Inc. (LQDT)
Liquidity Services, Inc. (NASDAQ: LQDT) provides leading corporations, public sector agencies and buying customers the world’s most transparent, innovative and effective online marketplaces and integrated services for surplus assets. On behalf of its clients, Liquidity Services has completed the sale of over $2.2 billion of surplus, returned and end-of-life assets, in over 500 product categories, including consumer goods, capital assets and industrial equipment. The company is based in Washington, D.C. and has over 700 employees. Additional information can be found at: www.liquidityservicesinc.com.
Media and Investor Contact:
Julie Davis
202.558.6234
[email protected]
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