Press release from Business Wire
Liquidity Services, Inc. Recognized with Corporate Growth Award
<p class='bwalignc'> <i>D.C. chapter of Association for Corporate Growth (ACG) lauds company for growth and innovation</i> </p>
Wednesday, April 24, 2013
Liquidity Services, Inc. Recognized with Corporate Growth Award08:00 EDT Wednesday, April 24, 2013
WASHINGTON (Business Wire) -- Liquidity Services, Inc., the leader in the surplus goods marketplace, has been honored with the Company Growth Award in the over $250M revenue category by the National Capital Chapter of the Association for Corporate Growth (ACG), representing the nation's fourth largest economic center. The ACG is the D.C. region's preeminent association for professionals involved in corporate growth, corporate development, and M&A; its annual awards program recognizes enterprises and individuals in the D.C. area that have personified excellence in corporate growth and deal making in the past year.
“The members of ACG National Capital are honored to recognize some of the region's most prominent businesses and executives for their excellence in 2012,” said Braun Jones, a partner with Outcome Capital and judge for the awards. “Selecting winners from this year's high quality slate of nominees proved to be quite a challenge. We had the most nominations of non-government focused companies ever, illustrating the region's progressing vibrancy and diversity. Liquidity Services and the other award winners represent one of the strongest contributors to the D.C.-area's positive business environment and economic performance.”
In its fiscal year 2012 (FY12), Liquidity Services expanded from 50 to 139 Fortune 1000 corporate clients, strengthening its share and leadership position in the $150 billion Reverse Supply Chain market.
“2012 was a remarkable year of growth and development for Liquidity Services as we expanded our share and leadership position globally while generating outstanding results for our clients and shareholders,” said Bill Angrick, Chairman and CEO of Liquidity Services. “Our solution uniquely creates sustainable supply chains for clients by protecting their brand reputation, reducing costs and increasing revenue recovery through the redeployment and sale of surplus assets. This award is a tribute to the talent and dedication of our entire team and we appreciate this esteemed recognition by the ACG.”
Over FY12, Gross Merchandise Volume (GMV) through Liquidity Services' online marketplaces was up 55% to a record $864.2 million, adjusted EBITDA increased 109% to a record $110.1 million, operating cash flow increased 31% to a record $52.1 million, and adjusted diluted EPS increased 77% to a record $1.86. Liquidity Services' global buyer base for surplus assets and inventory also grew by 36% to nearly 2.2 million over the fiscal year.
About Liquidity Services, Inc.
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 $3.5 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 approximately 1,300 employees. Additional information can be found at: http://www.liquidityservicesinc.com.
Liquidity Services, Inc.
Sultana F. Ali, APR, 202-467-5723