LiveDeal Inc. Reports Fiscal 2014 Financial Results, Largest Revenue Increase in Company History

LAS VEGAS, Dec. 29, 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 year-end financial results from its fiscal year, which ended September 30, 2014. 

Highlights include:

• Net revenues increased by 209 percent compared to the same time period in 2013, to approximately $7.2 M. This represents the largest annual revenue increase in the Company's history.
• Increase of gross profit of 42 percent, compared to the same time period the previous year
• Strong cash position of $8.1 million, compared to cash of approximately $761,000 as of September 30, 2013  
• Total stockholder equity increased more than 300 percent compared to stockholder equity the same period the previous year.
• Total assets increased by more than $15 million since the fiscal year ended September 2013
• The company made three strategic acquisitions, including Modern Everyday.
• Management forecasts continued significant growth in revenue

"In 2014 LiveDeal began to make its mark on the industry, demonstrating that both partners and customers truly want their deals 'real time,' and we anticipate continued growth in 2015, including expanding beyond our restaurant base, and evolving into a fully-fledged e-commerce site," said Jon Isaac, CEO of LiveDeal Inc.  "We look forward to the coming fiscal year, when we expect continued significant growth in our revenue, and strategically execute on our business plans to ensure that we are leaders in the industry while providing 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.

LiveDeal, Inc., Tim Matula, investor relations, 425-836-9035, [email protected], http://livedeal.com/pressroom