Live Ventures Inc (LIVE) 10-Q Quarterly Report February 2021

announced financial results for its first fiscal quarter ended December 31, 2020. The company reported record revenues of $62.5 million, and basic EPS of $3.45, which represents an increase of 49% and 1,050%, respectively, over the same quarter last year. The company also reported net income attributable to Live Ventures’ stockholders of $5.4 million¹, and operating income of $7.3 million, representing an increase of 889% and 109%, respectively, over the same period last year. During the quarter, the company repurchased 33,926 shares of its common stock at an average price of $10.97 per share.

At December 31, 2020, the company reported total assets of $190.6 million, total liabilities of $142.0 million and total cash and availability under its various lines of credit $40.2 million. Stockholders’ equity stood at $48.6 million, or $31.24 per basic common share².

“I am very pleased with our start to fiscal 2021, with meaningful, and significant improvements in quarterly financial results” said Jon Isaac, Live Ventures’ President and CEO.

Highlights of fiscal 2021, compared to the same period last year include:

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Revenues of $62.5 million; up 49%;

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Gross profit of $22.3 million; up 34%;

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Operating income of $7.3 million, up 109%;

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Earnings per basic share of $3.45; up 1,050%;

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Repurchase of 33,926 shares of common stock at an average price of $10.97 per share; and

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Net cash provided by operating activities of $7.7 million.

¹	Net income includes one-time gains of $0.7 million related to the settlement of historical payables in the company’s legacy businesses and a lease liability at ApplianceSmart.

²	For a reconciliation of stockholders’ equity per basic common share, see the Non-GAAP Measure Reconciliation at the end of this press release.

The following information was filed by Live Ventures Inc (LIVE) on Tuesday, February 16, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Live Ventures Inc's 10-Q Quarterly Report:

Financial - Income Highlight
24 The following table sets forth certain statement of income items and as a percentage of revenue, for the periods indicated: The following table sets forth revenues by segment: The following table sets forth gross profit earned by segment and gross profit as a percentage of total revenue for each segment: Revenue increased $20,453 or 49% to $62,454 for three months ended December 31, 2020 as compared to the three months ended December 31, 2019 of $42,001.

Financial - Cash Flow Highlight
Sources of Liquidity We utilize cash on hand and cash generated from operations and have funds available to us under our revolving loan facilities to cover normal and seasonal fluctuations in cash flows and to support our various growth initiatives.
Other - Other Highlight
Factors and risks that could affect our results, future performance and capital requirements and cause them to materially differ from those contained in the forward-looking statements include those identified in our 2020 Form 10-K under Item 1A "Risk Factors", as well as other factors that we are currently unable to identify or quantify, but that may exist in the future.
Financial - Cash Flow Highlight
Cash Flows from Operating Activities The Company's cash and cash equivalents as of December 31, 2020 was $7,232 compared to $8,984 as of September 30, 2020, a decrease of $1,752.
Revenue - Product
Revenues and operating income continue...Read more
Revenue - Product
Appliance revenue decreased $917 due...Read more
Financial - Income
Operating income for the three...Read more
Other - Other
Since commencing operations in 1995,...Read more
M & A - Other
As we continue to pursue...Read more
Other - Other
During March and April 2020,...Read more
Financial - Expense
Our most significant cash outflows...Read more
Financial - Cash Flow
Cash Flows from Financing Activities...Read more
Revenue - Product
Flooring Manufacturing revenues increased $9,855...Read more
Other - Other
Vintage Stock Vintage Stock is...Read more
Financial - Shares
Overview Based on our current...Read more
Other - Other
Although there are effective vaccines...Read more
Revenue - Product
Revenue for the three months...Read more
Other - Other
The extent of the impact...Read more
Revenue - Product
We expect revenue and operating...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Live Ventures Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: LIVE
CIK: 1045742
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-21-006090
Submitted to the SEC: Tue Feb 16 2021 4:46:06 PM EST
Accepted by the SEC: Tue Feb 16 2021
Period: Thursday, December 31, 2020
Industry: Investors