Live Ventures Incorporated (NASDAQ:LIVE) Q2 2024 Earnings Conference Call May 13, 2024 5:00 PM ET
Corporate Participants
Greg Powell - Director, Investor Relations
David Verret - Chief Financial Officer
Jon Isaac - President and Chief Executive Officer
Conference Call Participants
Joseph Kowalsky - Upstream Investment Partners
Operator
Good day, everyone, and welcome to today's Live Ventures Second Quarter Conference Call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. [Operator Instructions] Please note this call is being recorded and I will be standing by if you need any assistance.
It's now my pleasure to turn today's conference over to Greg Powell, Director of Investor Relations. Please go ahead, sir.
Greg Powell
Thank you, Travis. Good afternoon and welcome to the Live Ventures second quarter fiscal year 2024 conference call. Joining us this afternoon for the call are Jon Isaac, our Chief Executive Officer and President; David Verret, our Chief Financial Officer.
Some of the statements we are making today are forward-looking and are based on our best view of our businesses as we see them today. The actual results could differ materially due to a number of factors, including those outlined in our latest forms 10-K and 10-Q as filed with the Securities and Exchange Commission.
We have no obligation to publicly update any forward-looking statements after this call, whether as a result of new information, future events, changes in assumptions or otherwise. You can find a copy of our press release referenced on this call in the Investor Relations section of the Investor Relations website. I direct you to our website www.liveventures.com or sec.gov for our historical SEC filings.
And now I'll turn the call over to David to walk you through our financial performance for the quarter.
David Verret
Thank you, Greg, and good afternoon, everyone. Let's jump right in and discuss the financial results for the second quarter ended March 31st, 2024. Total revenue for the quarter increased 30.2% to approximately $118.6 million.
The increase is primarily attributable to the acquisitions of PMW, which was acquired during the fourth quarter of fiscal year 2023, and Flooring Liquidators, which was acquired during the second quarter of fiscal year 2023, which collectively added $29.6 million in revenue.
In addition, the Flooring Manufacturing segment contributed incremental revenue of approximately $3.8 million in the quarter. The increase was partially offset by decreased revenue of approximately $5.9 million and the company's other businesses due to general economic conditions.