Liquidity Services 3rd-qtr profits beats on strong volumes
* Q2 adj EPS $0.56 vs est $0.47
* Rev $121.3 mln vs est $123.8 mln
* Sees Q4 adj EPS $0.35-$0.38 vs est $0.33
* Shares rise as much as 12 pct
July 31 (Reuters) - Online auctioneer Liquidity Services Inc reported a quarterly profit that beat expectations and forecast strong earnings for the current quarter as it benefits from higher sales volumes, sending its shares up as much as 12 percent.
Liquidity Services, which auctions surplus and salvaged goods, has consistently been reporting higher gross merchandise volumes in the last few quarters as customers look for bargains and cheap deals in a weak economy.
The company projected adjusted earnings for the fourth quarter of 35 cents to 38 cents per share, above analysts expectations of 33 cents per share, according to Thomson Reuters I/B/E/S.
Liquidity Services reported a third-quarter profit of $14.9 million, or 45 cents per share, from $5.1 million, or 18 cents per share, a year earlier.
Excluding items, it earned 56 cents per share.
Revenue rose 46 percent to $121.3 million.
Analysts on average had expected third-quarter earnings of 47 cents per share on revenue of $123.8 million.
Shares of the Washington D.C.-based company were up 7 percent at $47.20 on Tuesday morning. They touched a high of $49.18 earlier in the session. ((firstname.lastname@example.org; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5217; Reuters messaging: email@example.com
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