Revenue during the quarter surged 60.11 percent to $32.19 million from $20.10 million in the previous year period. Gross margin for the quarter expanded 740 basis points over the previous year period to 39.28 percent. Total expenses were 88.57 percent of quarterly revenues, down from 94.79 percent for the same period last year. This has led to an improvement of 622 basis points in operating margin to 11.43 percent.

Operating income for the quarter was $3.68 million, compared with $1.05 million in the previous year period.

The company has spent $62.18 million cash to meet investing activities during the quarter as against cash outgo of $0.09 million in the last year period.

Cash flow from financing activities was $58 million for the quarter as against cash outgo of $2.04 million in the last year period.

Cash and cash equivalents stood at $1.59 million as on Dec. 31, 2016, down 52.26 percent or $1.74 million from $3.32 million on Dec. 31, 2015.

Working capital increases sharply
Live Ventures Incorporated has recorded an increase in the working capital over the last year. It stood at $24.28 million as at Dec. 31, 2016, up 84.89 percent or $11.15 million from $13.13 million on Dec. 31, 2015. Current ratio was at 2.10 as on Dec. 31, 2016, down from 2.15 on Dec. 31, 2015.

Cash conversion cycle (CCC) has increased to 92 days for the quarter from 84 days for the last year period. Days sales outstanding went down to 24 days for the quarter compared with 35 days for the same period last year.

Days inventory outstanding has increased to 102 days for the quarter compared with 89 days for the previous year period. At the same time, days payable outstanding went down to 34 days for the quarter from 39 for the same period last year.