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DGSE Companies Inc. Reports Operating Results (10-Q)

November 14, 2011 | About:
10qk

10qk

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DGSE Companies Inc. (DGSE) filed Quarterly Report for the period ended 2011-09-30.

Dgse Cos has a market cap of $84.4 million; its shares were traded at around $8.1 with a P/E ratio of 90 and P/S ratio of 1.
This is the annual revenues and earnings per share of DGSE over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of DGSE.


Highlight of Business Operations:

Sales increased by $29,419,727 or 162.5% during the three months ended September 30, 2011 as compared to 2010. This increase was primarily the result of a $14,798,000, or 160.8%, increase in the sale of precious metal products and a $12,326,000, or 215.7%, increase in our jewelry sales during the second quarter of 2011 as compared to 2010. The increase in precious metal sales was a result of strong consumer demand for these products and higher gold prices. The increase in jewelry sales was due to an increase in scrap jewelry transactions during the quarter ended September 30, 2011 as compared to 2010 as well as the acquisition of SBT which accounted for approximately $3.29 million of the increase. Cost of goods as a percentage of sales increased from 84.7% in 2010 to 88.3% in 2011.

Sales increased by $49,371,609 or 87.9% during the nine months ended September 30, 2011 as compared to 2010. This increase was primarily the result of a $28,058,000, or 95.8%, increase in the sale of precious metal products and a $16,427,000, or 93.7%, increase in our jewelry sales during the first nine months of 2011 as compared to 2010. The increase in precious metal sales was a result of strong consumer demand for these products and higher gold prices. The increase in jewelry sales was due to an increase in scrap jewelry transactions during the quarter ended September 30, 2011 as compared to 2010 as well as the acquisition of SBT which accounted for approximately $3.29 million of the income. Cost of goods as a percentage of sales increased from 85.6% in 2010 to 87.8% in 2011.

Read the The complete Report

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