LSI Honored for Growth

Auction gavel-110x150Liquidity Services Inc. (LSI), a leading online auction marketplace for wholesale surplus and salvage assets, was recognized recently by The Washington Business Journal as one of the 50 Fastest Growing Companies in Greater Washington. Recognized for the third consecutive year, LSI received the honor at an evening awards reception, held in October at the Carnegie Institution for Science in Washington, DC. LSI achieved more than 33 percent annual revenue growth from 2006 to 2008 as a result of increased demand for its online auction marketplaces, and related services for commercial and government clients. In addition to revenue growth, LSI grew its Gross Merchandise Volume (GMV), or total sales across its marketplaces, from $173 million in 2006 to $360 million in 2008, which represents an annual growth rate of 44 percent.

During the 12 months ended June 30, LSI recorded GMV of $363 million, and attracted more than 200,000 new registered buyers, to achieve a critical mass of nearly two million auction participants bidding for inventory across its marketplaces, including the following websites: www.liquidation.com, www.govliquidation.com, www.govdeals.com and www.liquibiz.com. “LSI’s outstanding growth demonstrates that large organizations are increasingly relying on our online marketplace and integrated services to realize greater returns and efficiencies in the tracking and sale of surplus and end of life assets,” said Bill Angrick, chairman and CEO of LSI. “Our team continues to strengthen LSI’s customer value proposition and grow our market share in the commercial, government and international market sectors, especially in light of the economic environment of the past year. Our online marketplaces offer small business and value conscious consumers the opportunity to easily find and bid on merchandise and equipment in over 500 product categories.”

The Washington Business Journal selected companies based upon average three year revenue growth percentage. In addition to high growth rates, companies must have had 2006 revenue of more than $2 million and 2008 revenue of more than $10 million, in order to be eligible. Participants in the survey were based in the metropolitan Washington, DC region.

Liquidity Services, Inc. trades on the NASDAQ exchange under the call letters, LQDT. The company and its subsidiaries enable corporations and government agencies to market and sell surplus assets and wholesale goods quickly and conveniently, using online auction marketplaces and value added services. The company is based in Washington, DC and has more than 650 employees. For more info, visit www.liquidityservicesinc.com.

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