DALLAS--(BUSINESS WIRE)--Aug. 11, 2017--
DGSE Companies, Inc. (NYSE MKT:DGSE) (“DGSE” or the “Company”), a
leading wholesaler and retailer of jewelry, diamonds, fine watches, and
precious metal bullion and rare coin products, today announced in its
Form 10-Q an 8% increase in revenues and a 23% increase in gross profit
for the three months ended June 30, 2017 as compared to the same period
in 2016. DGSE also reported a 6% decrease in selling, general and
administrative expenses and a 51% decrease in interest expense for the
three months ended June 30, 2017 as compared to the same period in 2016.
The Company previously reported that it returned to first-quarter
profitability in 2017 for the first time in four years.
“These encouraging second-quarter numbers reflect what we believe is a
continued change of course toward profitability for DGSE following
implementation of significant new business strategies,” said John
Loftus, DGSE’s President, Chairman and Chief Executive Officer since
“DGSE has returned to its roots, focusing on buying and selling jewelry
and timepieces at exceptional prices. Our strategy is to be an
information resource for clients, bring transparency to purchase and
sale transactions, and offer value and liquidity to those seeking to
buy, sell or trade jewelry, watches, diamonds or coins,” added Loftus.
DGSE Companies, Inc. wholesales and retails jewelry, diamonds, fine
watches, and precious metal bullion and rare coin products through its
Charleston Gold & Diamond Exchange and Dallas Gold & Silver Exchange
operations. In addition to its retail facilities in South Carolina and
Texas, the Company operates websites which can be accessed at www.dgse.com
The Company is headquartered in Dallas, Texas, and its common stock
trades on the NYSE MKT exchange under the symbol “DGSE.”
This press release includes statements that may constitute
“forward-looking” statements. 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, the Company’s
ability to execute on new business strategies, market conditions 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
except as required by law.
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Source: DGSE Companies, Inc.
DGSE Companies, Inc.
Bret Pedersen, 972-587-4024