- Live Ventures Inc (NASDAQ:LIVE) reported a second-quarter FY22 revenue decline of 1.7% year-on-year to $69.7 million.
- Segments: Retail segment revenue declined 13.6% Y/Y to $20.7 million, Flooring Manufacturing revenue decreased 0.6% Y/Y to $32.8 million, and Steel Manufacturing revenue rose 1.7% Y/Y to $14 million.
- The operating income fell 24.1% Y/Y to $8.4 million. The operating income for Retail declined 38.2% Y/Y to $3.1 million, Flooring Manufacturing decreased 35.5% Y/Y to $3.9 million, and Steel Manufacturing rose 56.1% Y/Y to $2.7 million.
- EPS was $4.84 versus $2.66 a year earlier.
- Live Ventures held total cash availability of $38.0 million, consisting of cash on hand of $6.2 million and credit availability of $31.8 million.
- “We are pleased with our second-quarter financial results given the inflationary pressures during the quarter,” Jon Isaac, CEO, commented. “Additionally, in the same period last year, our retail segment’s strong revenues were driven by the U.S. Government’s stimulus payments, which we did not have this year.”
- Price Action: LIVE shares traded lower by 3.99% at $38.00 on the last check Wednesday.
