WASHINGTON, Feb 02, 2010 (BUSINESS WIRE) — Liquidity Services, Inc. (LSI), a leading provider of online auction
marketplaces for surplus and salvage assets, has been named by Washington
SmartCEO magazine, in partnership with Clifton Gunderson LLP, as one
of the 50 fastest-growing companies in the Greater Washington area based
on employee and revenue growth. Bill Angrick, Chairman and CEO of LSI,
was recognized at the WashingtonSmartCEO/Clifton Gunderson
basketball-themed “Nothing but Net” Future 50 event.
“We are honored to be recognized by Washington SmartCEO for our
outstanding growth,” said Angrick. “Over the past ten years we have
developed and grown a prestigious client roster of Fortune 500
corporations and over 2,800 government agencies that seek to realize
greater returns and efficiencies in the management and sale of surplus
and end-of-life assets. This progress is a result of our team’s focus on
driving operational efficiencies and superior service to our clients and
LSI’s growth stems from the increased financial value it delivers
clients and buying customers through its transparent and innovative
online marketplaces and integrated services. Since inception, the
company has sold over $1.5 billion in Gross Merchandise Volume (GMV) to
over 8.5 million auction participants through its online auction
In the past five fiscal years, LSI has grown revenue by 165% from $89
million in 2005 to $236 million in 2009.
“On behalf of the partners and employees of Clifton Gunderson, I would
like to congratulate this year’s Future 50 winners. This exclusive group
is the embodiment of success and represents the best of our business
community. We are proud to be associated with SmartCEO and this very
worthwhile program,” says Patrick M. Byer, Sr., Partner-in-Charge,
Clifton Gunderson LLP.
Technology, government contracting, financial institutions, staffing and
many other industries are represented on this year’s list. This year’s
Future 50 winners collectively employ 29,000 people and generate over $9
billion in revenue.
“Each winner has effectively translated their passion and innovation
into tremendous growth and success,” says Jaime Park, Publisher at SmartCEO
magazine. “We, along with Clifton Gunderson, are honored to recognize
the fastest-growing companies in Greater Washington.”
About Washington SmartCEO
Washington SmartCEO magazine is a regional “growing company”
publication aimed at providing resources each month to help educate,
motivate and inspire Washington’s decision-makers. The publication’s
readers range from younger, dynamic companies, to established
multi-generational, family-owned firms.
About Clifton Gunderson LLP
Title sponsor, Clifton Gunderson LLP, ranked as one of the nation’s
largest certified public accounting and consulting firms, provides a
wide range of assurance, accounting, tax, and consulting services to
clients in a variety of industries. Founded in 1960, Clifton Gunderson
has a staff of more than 2,000 professionals serving clients from 45
offices across the country. The firm has been recognized as one of the
country’s best places to work.
About Liquidity Services, Inc.
Liquidity Services, Inc. (NASDAQ: LQDT) provides leading corporations,
public sector agencies and buying customers the world’s most
transparent, innovative and effective online marketplaces and integrated
services for surplus assets. On behalf of its clients, LSI has completed
the sale of over $1.5 billion of surplus, returned and end-of-life
assets, in over 500 product categories, including consumer goods,
capital assets and industrial equipment. The company is based in
Washington, D.C. and has approximately 700 employees. Additional
information can be found at: www.liquidityservicesinc.com.
SOURCE: Liquidity Services, Inc. (LSI)
Liquidity Services, Inc. (LSI)
Julie Davis, 202-558-6234