COLUMBUS, Ohio, Jun 28, 2011 (BUSINESS WIRE) — Liquidity Services, Inc. (NASDAQ: LQDT), announced today that its Government Liquidation marketplace (http://www.govliquidation.com) and leadership team have been honored by the U.S. Defense Logistics Agency (DLA) as one of the government’s best suppliers. The company will be presented with the Recognized Cost Saver Award for Large Business at the Business Alliance Award ceremony tonight held during the DLA Industry Conference and Exhibition at the Greater Columbus Convention in Columbus, Ohio.
The award is in recognition of Liquidity Services’ continued outperformance in efficiently handling the Department of Defense’s (DOD) scrap surplus sales, while increasing revenue to the government and significantly reducing operational costs.
Liquidity Services sells scrap material for the DOD via competitive online auctions to a global buyer base through its online marketplace http://www.govliquidation.com, generating over $34 million per year in distributions back to the U.S. Treasury. These distributions to the government have consistently exceeded historic expectations while maintaining efficiency in a safe and environmentally sound manner. Liquidity Services’ Government Liquidation marketplace continually brings in new buyers, maintains repeat-buyer rates of over 70%, and has increased distributions by 89% to the Treasury over the entire term of its contract.
“We are honored that the DLA has recognized our team with this prestigious award as a steward of the taxpayer,” said Tom Burton, President of Liquidity Services’ Government Liquidation business. “Each week, we receive an average of 30 million pounds of DOD scrap material which we must identify, process and prepare for sale. Our unyielding focus remains on maximizing efficiency and revenue enhancement on each pound of scrap we receive while also protecting our nation’s security and maintaining 100% compliance with each sale.”
Overall, 24 industry partners, customers and individuals will be recognized during the ceremony in eight categories. The categories include: vendor excellence, innovative business performer of the year, new DLA contractor of the year, outstanding readiness support, outstanding Ability One program vendor, recognized cost saver, customer of the year and commander’s choice award.
About Defense Logistics Agency
As a Department of Defense combat support agency, DLA provides the Army, Navy, Air Force, Marine Corps, other federal agencies, and joint and allied forces with a variety of logistics, acquisition and technical services. The agency sources and provides nearly 100 percent of the consumable items America’s military forces need to operate, from food, fuel and energy, to uniforms, medical supplies, and construction and barrier equipment. DLA also supplies more than 80 percent of the military’s spare parts.
Headquartered at Fort Belvoir, Va., DLA has about 27,000 employees worldwide and supports about 1,900 weapon systems. For more information about DLA, go to http://www.dla.mil, http://www.facebook.com/dla.mil or http://twitter.com/dlamil.
About Government Liquidation
Government Liquidation (http://www.govliquidation.com), a Liquidity Services, Inc. (NASDAQ: LQDT) marketplace, is a contractor of the DLA Disposition Services for the sale of surplus and scrap assets of the United States Department of Defense. Government Liquidation operates an innovative and powerful online sales channel that enables surplus buyers to purchase available government assets in a convenient and open environment in over 500 commodity categories. For more information, visit http://www.govliquidation.com.
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SOURCE: Liquidity Services, Inc.