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DGSE Cos. Q3 loss widens YOY

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DGSE Cos. Q3 loss widens YOY

DGSE Cos. Inc. said its normalized net income for the third quarter was a loss of 2 cents per share, compared with a loss of 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $300,090, compared with a loss of $290,240 in the year-earlier period.

The normalized profit margin dropped to negative 2.8% from negative 1.8% in the year-earlier period.

Total revenue fell 36.0% on an annual basis to $10.6 million from $16.5 million, and total operating expenses declined 35.1% from the prior-year period to $11.0 million from $16.9 million.

Reported net income totaled a loss of $1.5 million, or a loss of 12 cents per share, compared to a loss of $491,820, or a loss of 4 cents per share, in the year-earlier period.