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

October 31, 2012 | About:
10qk

10qk

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DGSE Companies Inc. (DGSE) filed Quarterly Report for the period ended 2012-06-30.

Dgse Companies, Inc. has a market cap of $83.36 million; its shares were traded at around $0 with a P/E ratio of 82.56 and P/S ratio of 1.01.

Highlight of Business Operations:

Sales. Sales decreased by $2,057,923, or 7%, during the three months ended June 30, 2012 to $28,584,697, as compared to $30,642,620 during the same period in 2011. The decrease was primarily due to a decrease in sales of bullion, jewelry and rare coins. In addition, revenue from discontinued operations for Superior Galleries, Inc. (“Superior”) were excluded in the amount of $1,148,552 and $2,644,071 for the periods ended June 30, 2012 and 2011 respectively. These decreases were partially offset by the acquisition of SBT in September 2011 which added revenues of $6,642,789 during the three months ended June 30, 2012 over the same period in 2011.

Cost of Sales. For the three months ended June 30, 2012, cost of sales decreased by $2,949,156, or 11% to $24,572,269, as compared to $27,521,425 during the same period in 2011, driven by lower sales. Cost of goods as a percentage of sales decreased from 89.8% in 2011 to 86.0% in 2012 primarily due to the higher margins on the newly-acquired SBT business.

Sales. Sales increased by $7,786,277, or 15%, to $61,399,360 during the six months ended June 30, 2012 as compared to $53,613,083 during to the same period in 2011. This increase was primarily due to increased scrap sales, which were up 57% over 2011, driven primarily by the acquisition of SBT, and partially offset by the decrease in sales of jewelry, bullion and rare coins. Overall SBT added revenue of $14,422,596 for the six months ended June 30, 2012.

Cost of Sales. For the six months ended June 30, 2012, cost of sales increased by $2,714,581, or 6%, to $50,659,420, as compared to $47,944,839 during the same period in 2011. Cost of goods as a percentage of sales decreased from 89.4% in 2011 to 86% in 2012 primarily due to the higher margins on the newly acquired SBT business.

Read the The complete Report

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