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News Breaks
July 10, 2014
07:00 EDTLQDTLiquidity Services sees Q3 adjusted EPS to be below 28c-34c, consensus 30c
Sees Q3 adjusted EBITDA to be below guidance range of $18M-$21M; Sees Q2 total gross merchandise volume to be within its guidance range of $225M-$250M. The revised guidance is due to the adverse impact of the cessation of sales of selected rolling stock and other assets under its Surplus Contract with the U.S. Defense Logistics Agency at the request of the DLA pending further review of impact of regulatory rules.
News For LQDT From The Last 14 Days
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October 1, 2014
16:34 EDTLQDTLiquidity Services announces business realignment, new senior leadership
Liquidity announced it has realigned its workforce in response to the new terms and scope of its DoD Surplus Contract, competitively bid in April, and to adjust for the efficiencies realized in its commercial business through ongoing integration efforts to support the future vision and growth of the company. The realignment includes the reduction of approximately 130 full-time and temporary employees across the organization over the course of FY15. Employee reductions span the organization and include positions related to the support of the DoD surplus business, capital asset and retail supply chain operations, and corporate functions and will result in one-time severance related expenses of approximately $1.2M which will be a further adjustment to Q4 adjusted earnings results. The company also announced that Tom Burton is appointed to EVP, Federal Sector, Gardner Dudley is appointed as the new president, Capital Assets Group, and Roger Gravley is appointed as the new president, GovDeals, succeeding Bob Debardelaben.

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