DGSE Q1 Revenues Up 43%
May 08, 11(IDEX Online News) - DGSE Companies, Inc. reported revenues of $24.7 million for the three months ended March 31, a 43% increase. The company posted a $302,612 profit, pulling out of the losses it posted a year ago.
Revenue and net income were facilitated by continuing improvements in the retail channels and strong consumer and investor interest in all aspects of DGSE’s precious metals related businesses, the company said in a release.
“The strong momentum we began to achieve in the second half of 2010 has continued into the first quarter of 2011,” stated COO William Oyster. “The trend continued and accelerated as we entered the start of the second quarter with April revenues representing the largest non-Christmas month in our history. Our outlook for the balance of the year remains strong.”
DGSE wholesales retails and auctions jewelry, diamonds, fine watches, and precious metal bullion and rare coin products. DGSE also owns Fairchild International, one of the largest vintage watch wholesalers in the U.S.