Liquidity Services, Inc. (LQDT: Quote) reported third-quarter net income of $14.9 million or $0.45 per share, compared to the net loss of $1.1 million or $0.04 per share in the comparable quarter last year.
Excluding items, adjusted net income for the quarter was $18.7 million or $0.56 per share, compared to the adjusted net income of $15.3 million or $0.52 per share last year.
On average, 8 analysts polled by Thomson Reuters expected the company to earn $0.47 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue from continuing operations for the latest quarter rose 46 percent to $121.3 million from $83.3 million last year. Analysts expected revenues of $123.81 million for the quarter.
Looking ahead, Liquidity Services lifted its adjusted earnings per share guidance for fiscal year 2012 to range from $1.81 to $1.84, compared to the previous guidance range of $1.64 to $1.70. Analysts currently expect the company to earn $1.68 per share for the fiscal year 2012.
For the fourth quarter of fiscal 2012, the company estimates adjusted earnings per share to be $0.35 to $0.38. Analysts currently expect fourth quarter earnings per share to be $0.33.
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by RTT Staff Writer
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