Operational Improvements in Key Segments
Retail-Entertainment and Steel Manufacturing segments delivered higher operating income and operating margins compared to the same period last year.
Successful Debt Renegotiation
Negotiated a $19 million reduction in Flooring Liquidators seller notes, resulting in a $22.8 million gain for Live Ventures.
Increased Gross Margin
Gross margin percentage increased to 32.8%, up from 29.9% in the prior year period.
Improved Net Income
Net income before taxes was $21.1 million, compared to a prior year period net loss before taxes of $4.5 million. Net income was approximately $15.9 million for the quarter, compared to a net loss of $3.3 million in the prior year period.
Adjusted EBITDA Growth
Adjusted EBITDA increased to approximately $6.4 million, up by $2 million compared to the prior year period.