DGSE Revenue Up, Profits Down

DGSE Companies, which buys and sells jewelry, fine watches,
diamonds, rare coins, and precious metals products reported that revenue for the
three months ended June 30 was approximately $33.2 million, a 60 percent
increase from 2010.

The company’s net income in the quarter totaled $568,099, a 90 percent
decrease from 2010.

A company spokesman said that the drop was because of a “one-time extraordinary gain” that happened last year in the second quarter, but overall this was one of the best quarters in the company’s history.

“Our retail channels continue to improve, consumer and
investor interest in all aspects of our precious metals related businesses is
strong, and we continue to focus on growth oriented initiatives such as SBT and
Bullion Express,” said
William Oyster, president and COO of DGSE, in a statement. “We are very
optimistic about the outlook for continued growth during the second half of
2011 and beyond.”