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Las Vegas Valley-based Live Ventures weighs third acquisition

Updated August 10, 2017 - 5:41 pm

A publicly traded Las Vegas Valley holding company foresees a third acquisition in its future.

Live Ventures executives were mum about details but said on a quarterly earnings call Thursday they were in talks about “several transactions.”

“We do not comment on acquisitions not previously announced,” chief financial officer Virland Johnson said on the call.

The company posted an income of $5.38 million for the three months ended June 30 after subtracting sales, marketing and administrative costs. That’s about five times the amount posted for the same period the year before.

However, net income had decreased to $2.13 million for the latest quarter, about six times less than the amount posted year over year.

Earnings had decreased to $1.04 per basic share compared to $4.76 for the same period the year prior.

CEO Jon Isaac said he believes his company’s stock is undervalued.

“In the long term, our stock price should rise,” he said. “In time it should reflect our performance.”

The company also spent millions on capital costs, a measure they want to decrease, the executives said.

The holding company owns two businesses. Vintage Stock is a chain of retail stores in the Midwest that sell movies, video games and collectibles. Marquis Industries makes carpet and yarn products in Georgia near the Tennessee border.

Live Ventures’ headquarters is in an office building suite near the intersection of Warm Springs Road and Placid Street in the southern part of the valley.

Vintage Stock opened about 10 stores after its acquisition and has no immediate plans for new stores. Marquis also bought new equipment to increase capacity.

The executives also expressed confidence in overcoming lawsuits from two shareholders after an online article accused Live Ventures of inflating its stock.

The financial cost is nominal, but the company wants to avoid earning a bad reputation, Johnson said.

In regular trade, shares fell 18 cents, or 1.54 percent, to $11.53. They fell another 4.5 percent in after-hours trade.

Contact Wade Tyler Millward at wmillward@reviewjournal.com or 702-383-4602. Follow @wademillward on Twitter.

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