Live Ventures rporated(US:LIVE)2025-02-12 16:42Revenue Performance - Revenue for the first quarter of fiscal 2025 was $111.5 million, a decrease of 5.2% from $117.6 million in the prior year period[5]. - Total revenue for the three months ended December 31, 2024, was $111.5 million, a decrease of 5.8% from $117.6 million in the same period of 2023[31]. Income and Profitability - Operating income fell to $0.8 million, down 78.5% from $3.5 million in the prior year period, primarily due to decreased revenue and increased expenses[8]. - Net income for the quarter was $0.5 million, compared to a net loss of $0.7 million in the prior year, driven by a $2.8 million gain from the settlement of earnout liabilities related to the PMW acquisition[9]. - Gross profit for the same period was $35.4 million, down from $36.3 million, resulting in a gross margin of 31.7%[31]. - Operating income decreased significantly to $762,000 from $3.5 million year-over-year[31]. - Net income for the quarter was $492,000, compared to a net loss of $682,000 in the prior year[31]. - Adjusted EBITDA was $5.7 million, a decrease of 33.9% from $8.7 million in the prior year period, reflecting overall reduced operating income[10]. - Adjusted EBITDA for the three months ended December 31, 2024, was $5.7 million, down from $8.7 million in the same period of 2023[33]. - The company reported a basic income per share of $0.16, compared to a loss per share of $0.22 in the previous year[31]. Segment Performance - Retail-Entertainment segment revenue increased by 3.3% to $21.3 million, while Retail-Flooring revenue decreased by 7.5% to $31.7 million due to reduced demand[15][16]. - Steel Manufacturing revenue decreased by 2.8% to $32.4 million, partially offset by $3.1 million in incremental revenue from the acquisition of Central Steel[19]. - The Retail-Flooring segment reported an operating loss of approximately $2.2 million, compared to a small operating income in the prior year, due to increased wages and administrative costs[16]. Assets and Liabilities - Total assets as of December 31, 2024, were $395.5 million, with stockholders' equity at $73.3 million[5]. - Total current assets decreased to $172.4 million from $181.9 million, primarily due to a reduction in trade receivables[27]. - Total liabilities decreased to $322.2 million from $334.7 million, reflecting a reduction in current liabilities[27]. - Cash increased to $7.4 million from $4.6 million, indicating improved liquidity[27]. - Retained earnings increased to $12.8 million from $12.3 million, showing positive growth in accumulated profits[28]. Operational Efficiency - Live Ventures is implementing measures to enhance efficiency in its flooring businesses to address industry-specific challenges[4].