WASHINGTON–(BUSINESS WIRE)–Jan. 20, 2014–
Liquidity Services, Inc. (NASDAQ:LQDT), a global solutions provider in
the reverse supply chain with leading online marketplaces for surplus
assets, today announced that it has been awarded a follow-on contract by
the U.S. Defense Logistics Agency (DLA) to extend the terms of its
current Surplus Contract for the disposition of usable surplus property
from the U.S. Department of Defense. Under the follow-on contract, which
commences February 14, 2014, Liquidity Services’ performance period has
been extended by a base term of 10 months with two one-month additional
option periods. All other terms, including pricing, will remain
consistent with the prior Surplus Contract.
The principal terms of the follow-on Surplus Contract agreement are
described in a Form 8-K to be filed with the SEC on Tuesday, January 21,
Liquidity Services does not believe the follow-on Surplus Contract will
have a material effect on its fiscal year 2014 results.
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,
Liquidity Services has completed the sale of over $4.3 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 1,300 employees. Additional information can be found at: http://www.liquidityservices.com.
FORWARD LOOKING STATEMENTS
This document contains forward-looking statements made pursuant to the
Private Securities Litigation Reform Act of 1995. These statements are
only predictions. The outcome of the events described in these
forward-looking statements is subject to known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to differ materially
from any future results, levels of activity, performance or achievements
expressed or implied by these forward-looking statements. These
statements include, but are not limited to, statements regarding the
Company’s business outlook and expected future effective tax rates. You
can identify forward-looking statements by terminology such as “may,”
“will,” “should,” “could,” “would,” “expects,” “intends,” “plans,”
“anticipates,” “believes,” “estimates,” “predicts,” “potential,”
“continues” or the negative of these terms or other comparable
terminology. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future
results, levels of activity, performance or achievements.
There are a number of risks and uncertainties that could cause our
actual results to differ materially from the forward-looking statements
contained in this document. Important factors that could cause our
actual results to differ materially from those expressed as
forward-looking statements are set forth in our filings with the SEC
from time to time, and include, among others, our dependence on our
contracts with the DoD and Wal-Mart for a significant portion of our
revenue and profitability; our ability to successfully expand the supply
of merchandise available for sale on our online marketplaces; our
ability to attract and retain active professional buyers to purchase
this merchandise; the timing and success of upgrades to our technology
infrastructure; our ability to successfully complete the integration of
any acquired companies, including NESA, Go-Industry, Jacobs Trading and
Truckcenter.com, into our existing operations and our ability to realize
any anticipated benefits of these or other acquisitions; and our ability
to recognize any expected tax benefits as a result of closing our U.K.
retail consumer goods operations. There may be other factors of which we
are currently unaware or deem immaterial that may cause our actual
results to differ materially from the forward-looking statements.
All forward-looking statements attributable to us or persons acting on
our behalf apply only as of the date of this document and are expressly
qualified in their entirety by the cautionary statements included in
this document. Except as may be required by law, we undertake no
obligation to publicly update or revise any forward-looking statement to
reflect events or circumstances occurring after the date of this
document or to reflect the occurrence of unanticipated events.
Source: Liquidity Services, Inc.
Liquidity Services, Inc.
Julie Davis, 202-558-6234
Director Investor Relations