* 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 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
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
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.
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