More information regarding the Company’s financial results for the quarter ended December 31, 2012 is set forth in the Company’s Report on Form 10-Q, as filed with the Securities and Exchange Commission on February 13, 2013.

           
Three Months Ended
   
 

December

December
Increase/ Increase/
in thousands, except per share data

31, 2012

31, 2011
(Decrease) (Decrease)
(unaudited)

(1)

 
$

%
(unaudited)
Revenues

 

 

$
1,736,289 $ 2,127,808 $ (391,519 ) (18.4 )%
Gross profit 11,459 9,945 1,514 15.2 %
Operating expenses 11,345 15,554 (4,209 ) (27.1 )%
Operating income (loss) 114 (5,609 ) 5,723 102.0 %
Pre-tax income (loss) from continuing operations 523 (1,083 ) 1,606 148.3 %
Provision for income taxes (income tax benefit) 1,062 (127 ) 1,189 936.2 %
Loss from continuing operations (539 ) (956 ) 417 43.6 %
Net income (loss) from discontinued operations (483 ) 483 100.0 %
Net income (loss) (539 ) (1,439 ) 900 62.5 %
Less: net income attributable to non-controlling interest 699 444 255 57.4 %
Net income (loss) attributable to Spectrum Group International, Inc.

 

 

$
160 $ (995 ) $ 1,155 116.1 %

Earnings (loss) per share

 
Basic – continuing operations

 

 

$
0.01 $ (0.02 ) $ 0.03 (150.0 )%
Basic – discontinued operations

 

 

$
$ (0.01 ) $ 0.01 NM
Diluted – continued operations

 

 

$
0.01 $ (0.02 ) $ 0.03 (150.0 )%
Diluted – discontinued operations

 

 

$
$ (0.01 ) $ 0.01 NM
Basic – attributable to Spectrum Group International, Inc.

 

 

$
0.01 $ (0.03 ) $ 0.04 (133.3 )%
Diluted – attributable to Spectrum Group International, Inc.

 

 

$
0.01 $ (0.03 ) $ 0.04 (133.3 )%

_________________

(1) Adjusted to reflect discontinued operations.

NM = not meaningful
           
Six Months Ended
   

December

31, 2011

December

(1)

 
Increase/ Increase/
in thousands, except per share data

31, 2012
(restated) (Decrease) (Decrease)
(unaudited) (unaudited) $

%
 
Revenues

 

$
3,401,156 $ 4,386,862 $ (985,706 ) (22.5 )%
Gross profit

21,639
27,970 (6,331 ) (22.6 )%
Operating expenses 22,762 30,235 (7,473 ) (24.7 )%
Operating income (loss) (1,123 ) (2,265 ) 1,142 50.4 %
Pre-tax income (loss) from continuing operations (144 ) 5,729 (5,873 ) (102.5 )%
Provision for income taxes 1,170 2,843 (1,673 ) (58.8 )%
Net income (loss) from continuing operations (1,314 ) 2,886 (4,200 ) (145.5 )%
Net income (loss) from discontinued operations (663 ) 312 (975 ) (312.5 )%
Net income (loss) (1,977 ) 3,198 (5,175 ) (161.8 )%
Less: net (income) loss attributable to non-controlling interest 615 (1,020 ) 1,635 (160.3 )%
Net income (loss) attributable to Spectrum Group International, Inc.

 

$
(1,362 ) $ 2,178 $ (3,540 ) (162.5 )%

Earnings (loss) per share
Basic – continuing operations

 

$
(0.02 ) $ 0.06 $ (0.08 ) (133.3 )%
Basic – discontinued operations

 

$
(0.02 ) $ 0.01 $ (0.03 ) NM
Diluted – continuing operations

 

$
(0.02 ) $ 0.06 $ (0.08 ) (133.3 )%
Diluted – discontinued operations

 

$
(0.02 ) $ 0.01 $ (0.03 ) NM
Basic – attributable to Spectrum Group International, Inc.

 

$
(0.04 ) $ 0.07 $ (0.11 ) (157.1 )%
Diluted – attributable to Spectrum Group International, Inc.

 

$
(0.04 ) $ 0.07 $ (0.11 ) (157.1 )%

_____________

(1) Adjusted to reflect discontinued operations.

NM = not meaningful

About Spectrum Group International, Inc.

Spectrum Group International, Inc. (together with its subsidiaries, “we,” the “Company” or “SGI”) is a global trading and collectibles network. We are a trader of precious metals and an auctioneer of coins and wine, serving both collectors and dealers. We are also a merchant/dealer of certain collectibles. Our collectibles offerings span the price spectrum from modest to ultra-high end. Furthermore, we offer loans to coin dealers, collectors and investors backed by their precious metals, rare coins, and other collectibles as collateral.