DGSE Companies Posts Q4 Profit
April 17, 11(IDEX Online News) - DGSE Companies, Inc. reported revenue of approximately $26.9 million, a 21% year-over-year increase, for the December ending quarter. Net income for the three months was $10,000.
DGSE is a Dallas, Texas headquartered company that buys and sells jewelry, fine watches, diamonds, rare coins and precious metals products via traditional and internet channels.
The small profit in the quarter is an improvement from the $15 million loss posted for the prior year.
Revenues for the fiscal year increased to $82.5 million, leading the company to a $5.7 million profit, compared to $313,694 loss in fiscal 2009.
“I am very pleased to announce a strong finish to a pivotal year for DGSE,” stated William Oyster, President and COO of DGSE. “The fourth quarter marks the second consecutive quarter of meaningful progress and performance across all of our primary business segments since we successfully closed the transaction involving the Receiver for Stanford International Bank.”