Liquidity Services Q3 Profit Declines; Cuts FY13 EPS Outlook - Quick Facts

(RTTNews) - Online assets auction operator Liquidity Services, Inc. (LQDT), Tuesday reported third-quarter net income of $11.3 million, or $0.35 per share, compared with the prior-year's $14.9 million or $0.45 per share.

Adjusted net income for the quarter was $14.3 million, or $0.44 per share, down from $18.7 million or $0.56 per share in the comparable quarter last year.

Total revenue for the latest third quarter rose to $124.19 million, from $121.27 million reported a year ago.

Analysts, on average, expected earnings per share of $0.45, on revenue of $118.51 million for the third quarter. Analyst estimates typically exclude one-time items.

Looking ahead, to the fourth quarter, the company expects adjusted earnings per share to be in the range of $0.39 to $0.43. Analysts currently expect earnings of $0.47 per share for the fourth quarter.

For the full year 2013, the company expects earnings to range from $1.72 to $1.76, down from its previous range of $1.90 per share to $2.02 per share. Analysts expect full-year 2013 earnings of $1.80 per share.