Live Ventures Incorporated Announces Repurchase of Over 110,000 Shares Under Stock Repurchase Program
October 24 2017 - 8:00AM
Live Ventures Incorporated (Nasdaq:LIVE), a diversified holding
company, today announced it has acquired approximately 110,000
shares through its stock repurchase program since its inception
through October 20, 2017. The average share price of those
repurchased shares, which includes commissions, was $10.64,
representing an approximate discount of 20 percent over the October
23 close price and approximately five percent of the total
outstanding basic shares of the company.
“We are enthusiastic about our repurchases, and expect to
continue to strategically and opportunistically buy back our stock
at levels that management and the board view as discounted to our
intrinsic value,” said Jon Isaac, Live Ventures’ President and
Chief Executive Officer.
About Live Ventures Incorporated Live Ventures
Incorporated is a diversified holding company with several wholly
owned subsidiaries and a strategic focus on acquiring profitable
companies that have demonstrated a strong history of earnings
power. Live Ventures Incorporated provides, among other
businesses, marketing solutions that boost customer awareness and
merchant visibility on the Internet. The company operates a
deal engine, which is a service that connects merchants and
consumers via an innovative platform that uses geo-location,
enabling businesses to communicate real-time and instant offers to
nearby consumers. In addition, through its subsidiary, Marquis
Industries, the company operates as a specialty, high-performance
yarns manufacturer and hard-surfaces re-seller. Marquis Industries,
which is a top-10 high-end residential carpet manufacturer in the
United States, utilizes its state-of-the-art yarn extrusion
capacity to market monofilament textured yarn products to the
artificial turf industry. Marquis is the only manufacturer in
the world that can produce certain types of yarn prized by the
industry. In addition, through its subsidiary Vintage Stock,
Inc., an award-winning entertainment company, the company is a
retailer of movies, classic and new video games, music, collectible
comics and toys. Vintage Stock has the ability to special order and
ship product worldwide to the customer’s doorstep.
Forward-Looking and Cautionary Statements This
press release may contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of
1995. In accordance with the safe harbor provisions of this
Act, statements contained herein that look forward in time that
include everything other than historical information, involve risks
and uncertainties that may affect the company’s actual results.
These forward-looking statements can be identified by terminology
such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Live
Ventures Incorporated may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission on Forms 10-K, 10-Q and 8-K, in its annual
report to stockholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. There can be no assurance that such
statements will prove to be accurate and there are a number of
important factors that could cause actual results to differ
materially from those expressed in any forward-looking statements
made by the company, including, but not limited to, plans and
objectives of management for future operations or products, the
market acceptance or future success of our products, and our future
financial performance. The company cautions that these
forward-looking statements are further qualified by other factors
including, but not limited to, those set forth in the company’s
Form 10-K for the fiscal year ended September 30, 2016, most recent
Form 10-Q, and other filings with the U S. Securities and Exchange
Commission (available at http://www.sec.gov). The company
undertakes no obligation to publicly update or revise any
statements in this release, whether as a result of new information,
future events, or otherwise.
Contact:Live Ventures IncorporatedTim Matula, investor
relations425-836-9035tmatula@live-ventures.comhttp://www.live-ventures.com
Live Ventures (NASDAQ:LIVE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Live Ventures (NASDAQ:LIVE)
Historical Stock Chart
From Apr 2023 to Apr 2024