• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

DGSE Companies, Inc. Announces Third Quarter Fiscal 2005 Revenues Up 14.3 Percent Over Fiscal 2004

Posted on: Friday, 11 November 2005, 18:00 CST

DGSE Companies, Inc. (Nasdaq:DGSE), operating as Dallas Gold & Silver Exchange, Inc. wholesales, retails and auctions fine watches, jewelry, diamonds and precious metal products and rare coins via traditional and Internet channels, today announced operating results for the Fiscal Third Quarter and Nine-Months ending Sept 30, 2005.

Earnings

-- Basic and diluted net income per share for Fiscal 2005 Third

Quarter was $.02. This compares to $.02 per share (after

discontinued operations) in the equivalent quarter of 2004.

For the Nine-month period ending September 30, 2005 Basic and

Diluted net income per share were to $.06. This compares to

$.08 per share (after discontinued operations) for the

equivalent period in 2004.

Revenues

-- Total Revenues for the Third Quarter of 2005 were $7,214,857.

This represents a 14.3 percent increase over Fiscal 2004

Second Quarter Revenues of $6,307,613.

-- Total Revenues for the Nine-Month period were $20,733,079.

This represents a 7.3 percent increase over the equivalent

2004 period of $19,323,971.

Performance Metrics & Liquidity

-- EBITDA (earnings before interest, taxes, depreciation and

amortization) was $252,576 for the Third Quarter of in 2005 or

$.05 per share. EBITDA for the Nine-Month period ending

September 30, 2005 was $835,932 or $.17 per share. Trailing

Twelve Months EBITDA (before on-cash adjustments) increased to

$918,999 or $.19 per share.

-- Shareholders' equity at the end of the Third Quarter of 2005

was $5,940,644 or $1.21 per share. This represents an increase

of 4.3 percent versus $5,690,282 or $.1.16 per share at the

end of the Third Quarter 2004.

"The Third Quarter continued the revenue growth trends of our core businesses despite higher oil prices and two devastating hurricanes," noted William H. Oyster, President and Chief Operating Officer of DGSE Companies, Inc." Mr. Oyster continued, "Our American Pay Day Centers, Inc. in New Mexico are enjoying increasing loan balances and we expect them to reach break-even in the very near term. Our rare coin business is accelerating and in the third quarter our U.S. Bullion Exchange activities began to grow materially. We are also very excited about the new location for our successful superstore in Charleston, South Carolina. The new store has already enjoyed substantially better performance than at its prior location. We are very enthusiastic about the fourth quarter and expect both revenues and earnings to significantly exceed last year's results."

DGSE Companies, Inc., operating as Dallas Gold & Silver Exchange, Inc., wholesales and retails jewelry, diamonds, fine watches and precious metal bullion and rare coin products to domestic and international customers via traditional and Internet channel. DGSE also owns Fairchild International, Inc., one of the largest vintage watch wholesalers in the country. In addition to its retail facilities, the Company operates live Internet auctions that can be accessed at www.dgse.com. Real-time price quotations on over 250 precious metals are provided on another DGSE Web site at www.USBullionExchange.com. Wholesale customers can access our full vintage watch inventory through the restricted site at www.FairchildWatches.com.

The Company is headquartered in Dallas, and its common stock trades on The Nasdaq Stock Market(R) under the symbol "DGSE."

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe,""estimate,""project,""expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

DGSE COMPANIES, INC. SUMMARY OF OPERATIONS PERIODS ENDED SEPTEMBER 30, Three months ended Nine months ended ----------------------- ------------------------- 2005 2004 2005 2004 ----------- ----------- ------------ ------------ REVENUE $7,214,857 $6,307,613 $20,733,079 $19,323,971 NET INCOME $91,554 $109,741 $321,447 $396,216 EARNINGS PER SHARE $.02 $.02 $.06 $.08 AVERAGE SHARES OUTSTANDING 4,913,290 4,913,290 4,913,290 4,913,290

Source: Business Wire

More News in this Category