CORRECTED-Holding company Live Ventures' Q3 revenue falls 9.2%, posts profit on one-time gains
Overview
Live Ventures fiscal Q3 revenue falls 9.2% yr/yr to $112.5 mln
Operating income surges 607.6% to $8.0 mln, driven by cost reductions
Net income rises to $5.4 mln from a loss, aided by one-time gains worth $2.8 mln
Result Drivers
REVENUE DECLINE - Revenue fell 9.2% due to decreased demand in Retail-Flooring and Steel Manufacturing segments
COST REDUCTION - Operating income surged 607.6% driven by lower compensation, marketing, and legal expenses
PRODUCT MIX - Retail-Entertainment segment revenue increased 15.2% due to changes in product mix towards higher-priced new products
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| $112.50 mln |
|
Q3 EPS |
| $1.24 |
|
Q3 Net Income |
| $5.40 mln |
|
Q3 Adjusted EBITDA |
| $13.2 mln |
|
Q3 Operating Income |
| $8 mln |
|
Press Release: ID:nGNX7VFFqK
