Evine Live (EVLV) Reports Q4 EPS of $0.03, Miss on Revenue

Evine Live (NASDAQ: EVLV) reported Q4 EPS of $0.03. Revenue for the quarter came in at $191 million versus the consensus estimate of $201.69 million.

Fiscal Year 2016 Fourth Quarter Highlights

• Net sales were $191 million, a 9.9% decrease year-over-year.
• Gross profit as a percentage of sales increased 260 basis points to 34.0%.
• Net income was $2.0 million, a 207% improvement year-over-year.
• Adjusted EBITDA was $6.4 million, a 31% improvement year-over-year.
• EPS was $0.03, a 200% improvement year-over-year.
• Total Cash, including restricted cash, was $33 million, a 168% improvement year-over-year.

2017 Outlook

The following details relate to our expected performance for the first quarter and full year of fiscal 2017:

For First Quarter: We expect revenues to decline 6% to 9%, which reflects our continued rebalancing of our merchandising mix to reduce low margin consumer electronics that began back in the second quarter of 2016. We also expect to incur approximately $1.6 million in one-time charges related primarily to the early pay down of GACP debt. From a bottom-line perspective, we expect to post an improvement in net income and EPS as compared to prior year’s first quarter results.

For Full Year: We expect sales growth in the low single digits for fiscal 2017. We should show sequential improvement in each quarter so that revenues will be down low to mid-single digits in the first half of the year and show growth in the mid-single digits in the second half of the year. We expect adjusted EBITDA to be in the $18 to $22 million range, which would be growth of 11% to 36% year over year. Our fiscal year expectations include a 53rd week in fiscal 2017.

For earnings history and earnings-related data on Evine Live (EVLV) click here.

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