Live Ventures Inc (NASDAQ:LIVE) stock rose 0.13% (As on December 21, 11:21:19 AM UTC-4, Source: Google Finance) after the company beats the topline expectations for the fourth quarter of FY 23. The company has acquired Flooring Liquidators, Inc. (“Flooring Liquidators”), Precision Metal Works, Inc. (“PMW”), certain assets from Cal Coast Carpet Warehouse, Inc., and the Harris Flooring Group® brands, transactions valued at approximately $117 million.

Moreover, the revenues increased approximately $68.3 million, or 23.8%, to $355.2 million for the year ended September 30, 2023, as compared to the prior year revenues of approximately $286.9 million. The increase is primarily attributable to the Flooring Liquidators and PMW acquisitions acquired in fiscal year 2023 and Kinetic acquired in late fiscal year 2022, which contributed incremental revenue of approximately $115 million, partially offset by decreased revenues in Retail Entertainment, Flooring Manufacturing, and Corporate and Other segments. For the year ended September 30, 2023, net loss was approximately ($0.1) million and diluted loss per share was ($0.03), as compared with net income of $24.7 million and diluted EPS of $7.84 in the prior year. The decrease in net income is attributable to lower profit margins as a result of inflationary cost increases. In addition, the prior year’s net income included a benefit of approximately $11.4 million or $3.56 per diluted share for a gain on the bankruptcy settlement and a charge of approximately $4.9 million or $1.56 per diluted share for an impairment of goodwill and intangibles. Adjusted EBITDA for the year ended September 30, 2023 was approximately $31.5 million, a decrease of approximately $6.8 million, or 17.8%, as compared to the prior year. The decrease is primarily due to an overall decrease in operating income. As of September 30, 2023, the Company had total cash availability of $37.1 million, consisting of cash on hand of $4.3 million and cash availability under its various lines of credit of $32.8 million.

LIVE in the fourth quarter of FY 23 has reported the adjusted earnings per share of -$1.45. The company had reported the adjusted revenue of $103.55 million in the fourth quarter of FY 23, beating the analysts’ estimates for revenue of $102 million. Retail – Entertainment segment revenues for the year ended September 30, 2023, were approximately $78.1 million, a decrease of approximately 9.3%, as compared to the prior year revenues of approximately $86.2 million. The Retail – Flooring segment includes Flooring Liquidators, which was acquired in January 2023. Revenues for the year ended September 30, 2023, were approximately $75.9 million and gross margin was 36.6%.