This Day On The Street
Continue to site
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

DGSE Companies, Inc. Reports Second Quarter 2013 Results

DGSE Companies, Inc. (NYSE MKT: DGSE), a leading wholesaler and retailer of jewelry, diamonds, fine watches, precious metal bullion and rare coin products, today announced its financial results for the three and six months ended June 30, 2013.

Second Quarter 2013 Summary
  • Revenues were $29.5 million compared to $28.6 million in the year ago period, a 3.3% increase
  • Gross profit was $4.1 million, or 14% gross margin, compared to $4.0 million, or 14% gross margin in the same period last year
  • Total expenses decreased 12.7% to $5.3 million from $6.1 million in the year-ago quarter as expenses related to prior restatements declined, and the Company's expense reduction efforts reduced expenses across the board
  • SG&A from continuing operations, excluding non-recurring expenses related to the restatement and shareholder lawsuits, decreased to $4.9 million from $5.0 million in the prior-year second quarter, inclusive of incremental operating expenses from five additional retail locations
  • Net loss was $1.1 million compared to a loss of $2.4 million in the year-ago period. The year-ago period included a $0.2 million loss from discontinued operations, net of taxes
  • Opened three new locations, one each in the Dallas-Fort Worth, Atlanta and Charleston (South Carolina) metro areas

James Vierling, Chief Executive Officer and Chairman of the Board, stated, “We continued to focus on our strategic initiatives and have opened three new locations in 2013. In April, we opened a Southern Bullion Coin & Jewelry retail location in Cumming, near Atlanta, Georgia. In June, we opened a Dallas Gold & Silver Exchange retail location in Garland, Texas, which represents DGSE’s ninth retail location in the Dallas-Fort Worth metro area and, now provides the Company complete east-west coverage of the area. Last week, we opened our second Charleston Gold & Diamond Exchange retail location, in Summerville, South Carolina to service the north and western parts of the historically strong Charleston market. Relative to these retail location openings, our efforts to reduce operating expenses continue to be successful, as we decreased our total expenses by almost $800,000, even while incurring $342,000 in incremental operating expenses related to new stores opened in the last 12 months. We remain focused on funding retail location openings from operating cash flow as we have done in the past.”

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community


Chart of I:DJI
DOW 17,568.53 -127.94 -0.73%
S&P 500 2,079.65 -12.01 -0.58%
NASDAQ 5,088.63 -48.8540 -0.96%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs