LAS VEGAS, Aug. 13, 2014 /CNW/ - LiveDeal Inc. (NASDAQ:LIVE) ("LiveDeal" or the "Company"), a publicly traded company that operates livedeal.com, a geo-location based mobile marketing platform that enables restaurants to publish "real-time" and "instant offers" to nearby consumers, today announces financial results from the third fiscal quarter, which ended June 30, 2014. Highlights include:
- Increase in net revenues of 340 percent compared to the same time period in 2013
- Current cash position is $10.3 million, compared to cash of approximately $1 million as of June 30, 2013
- Stockholder equity increased 344 percent compared to stockholder equity as of the fiscal year ended September 2013.
- Total assets increased by more than $12 million since the fiscal year ended September 2013
"The third fiscal quarter represented significant growth for the company, as it was during this time that we made important acquisitions, increased our marketing efforts, and as a result, saw significant increase in revenue, and customer base," said Jon Isaac, CEO of LiveDeal Inc. "We are confident that we are on the right track and will continue to wisely invest our capital to ensure that we are one of the significant leaders in our industry, and provide optimum shareholder value."
About LiveDeal, Inc.
LiveDeal Inc. provides marketing solutions that boost customer awareness and merchant visibility on the Internet. LiveDeal operates a deal engine, which is a service that connects merchants and consumers via an innovative platform that uses geo-location, enabling businesses to communicate real-time and instant offers to nearby consumers. In November 2012, LiveDeal commenced the sale of marketing tools that help local businesses manage their online presence under the Company's Velocity Local™ brand. LiveDeal continues to actively develop, revise, and evaluate these products and services and its marketing strategies and procedures. For more information, visit www.livedeal.com.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking" statements that are based on present circumstances and on LiveDeal's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements, including any statements regarding the plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Forward-looking statements are made only as of the date of this release and LiveDeal does not undertake and specifically declines any obligation to update any forward-looking statements. Readers should not place undue reliance on these forward-looking statements.
SOURCE: LiveDeal Inc.
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