According to a press release, Gao bought the LIVE shares at an aggregate price of approximately $245,000. LIVE CEO Jon Isaac said in a company statement that the investment highlights Gao's commitment to the business.
Furthermore, Isaac purchased more than $250,000 in LIVE stock earlier this month. In a company statement, LIVE pointed out that Isaac bought 13,795 shares of the business' stock at an average price of $18.60.
LIVE shares traded down 5.33 percent and closed at a price of $20.25 on Jan. 24. The shares feature a one-year price high of $21.69 and a one-year price low of $20.11.
How Did LIVE Perform in FY16?
LIVE enjoyed strong returns in fiscal year 2016, which is reflected in the company's most recent earnings report.
Some of LIVE's FY16 financial results included:
- Nearly $79 million in revenue, up 136 percent year to year.
- Net profit of approximately $17.8 million.
- Earnings per share (EPS) of $8.92.
Isaac in a press release said he expects the company's revenue to increase 50 percent year to year in FY17. He noted the business's revenue may surpass $120 million in the time frame.
LIVE Appoints New CFO
LIVE this month appointed Virland Johnson as its chief financial officer. Johnson previously served as senior direct of revenue at JDA Software Group, an Arizona-based supply chain management company.
In a press release, Isaac indicated that Johnson boasts extensive experience working with both publicly traded and private businesses. Furthermore, Isaac noted that Johnson has the ability and agility to understand multiple businesses — something that may serve LIVE well in the foreseeable future.
Johnson said in a company statement that he intends to work closely with LIVE's management to help the business elevate its global reputation. Also, Johnson pointed out that he will explore ways to transform LIVE into a premiere brand.