This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

DGSE Reports Financial Results For Third Quarter Of 2012

Stocks in this article: DGSE

DGSE Companies, Inc. (NYSE MKT: DGSE) today announced the filing of its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2012. On October 31, 2012 DGSE filed its restated Consolidated Financial Statements for the fiscal year ended December 31, 2010 and its Consolidated Financial Statements for the fiscal year ended December 31, 2011, and its Forms 10-Q for the fiscal quarters ended March 31, 2012 and June 30, 2012, respectively. With today’s filing and the October 31, 2012 filings, DGSE is current in its public company reporting obligations under the Securities Exchange Act of 1934, as amended. DGSE believes it is fully in compliance with the listing requirements of NYSE MKT, LLC.

“We are pleased to have the restatement process firmly behind us,” said James Vierling, Chairman, Chief Executive Officer and President of DGSE Companies, Inc. “While DGSE would have been profitable without the one-time restatement expenses presented in this filing, it is clear that we now need to turn our focus to expanding revenues and margins while reducing costs wherever possible.”

Mr. Vierling continued, “We believe that with the filing of our results for the fiscal quarter ended September 30, 2012, DGSE’s new management has further demonstrated its commitment to timely, accurate reporting for our shareholders. The Company believes it is fully compliant with its listing requirements, and looks forward to the resumption of trading of its common shares on NYSE MKT in the very near future.”

Third Quarter 2012 Results

In the quarter ended September 30, 2012, sales decreased by $15.0 million or 34%, to $29.0 million, as compared to $44.0 million during the same period in 2011. The decrease was primarily driven by significantly lower sales of bullion, with moderate decreases across other categories. These decreases were partially offset by the acquisition of SBT, Inc. (“SBT”) in September of 2011, which added revenues of $7.8 million during the three months ended September 30, 2012, an increase of $4.5 million over the same period in 2011.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,580.93 +181.26 1.11%
S&P 500 1,936.83 +32.82 1.72%
NASDAQ 4,405.8790 +89.8050 2.08%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs