DGSE Announces the Grand Opening of its First Two DGSE Bullion Express Locations
DALLAS--(BUSINESS WIRE) ( June 1, 2011)-- DGSE Companies, Inc. (NYSE Amex: DGSE), which buys and sells jewelry, fine watches, diamonds, rare coins and precious metals products via traditional and internet channels announces the successful launch of its DGSE Bullion Express Stores with the recent opening of its first two locations in Woodland Hills, California and Dallas, Texas. DGSE Bullion Express will provide immediate delivery of all precious metals products in transactions facilitated by its refining partner.
In addition to selling precious metals products, Bullion Express locations will also purchase precious metals products, scrap and pre-owned jewelry providing two way markets for customers with the same professional service and reliability they have come to know from DGSE’s four flagship stores and web based channels. Certain Bullion Express locations, including Woodland Hills and Dallas, will also include a retail environment where customers can purchase unique one of a kind jewelry pieces, diamonds and fine watches.
“I am very pleased to report that our first two Bullion Express locations were opened on time and under budget,” stated William Oyster, President and COO of DGSE. “Initial traffic and sales volumes have exceeded expectations during our “soft opening” adding to our confidence that these unique precious metals centers will be well received in a number of cities and markets around the Country.”
“Today, more and more consumers are demanding prompt physical delivery of precious metals products, an increasingly difficult task for many dealers and traditional outlets due to robust demand and limited physical supply. Our unique relationship with our refining partner overcomes these challenges and positions us to capitalize in this growing market. New Bullion Express locations are currently being planned with the expectation that up to four additional locations will be opened by year end.”
DGSE Companies, Inc. wholesales, retails and auctions jewelry, diamonds, fine watches, and precious metal bullion and rare coin products to domestic and international customers through its Dallas Gold and Silver Exchange, Charleston Gold and Diamond Exchange, Superior Gold & Diamond Exchange operations as well as through the internet. DGSE also owns Fairchild International, Inc., one of the largest vintage watch wholesalers in the country. In addition to its retail facilities in Dallas and Euless, Texas, Charleston, South Carolina and Woodland Hills, California, the Company operates internet websites which can be accessed at www.dgse.com and through Superior Gold & Diamond Exchange website at www.sgde.com and Charleston Gold & Diamond Exchange at www.cgdeinc.com. Real-time price quotations and real-time order execution in precious metals are provided on another DGSE web site at www.USBullionExchange.com. Wholesale customers can access our full vintage watch inventory through the restricted site at www.FairchildWatches.com. DGSE also purchases precious metals, rare coins, watches, diamonds and jewelry through www.AmericanGoldandSilverExchange.com, and over 900 supporting websites. DGSE also operates an independent website at www.dgsetreausurehunt.com that allows consumers to purchase one of a kind items collected throughout its system. DGSE BullionExpress are specialty precious metals stores currently located in Dallas, Texas and Woodland Hills, California.
The Company is headquartered in Dallas, Texas and its common stock trades on NYSE Amex Exchange under the symbol “DGSE”.
This press release includes statements which may constitute 'forward-looking" statements, usually containing the words "believe", "estimate", 'project", "expect" or similar expressions. 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, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, 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. In addition to the results presented in accordance with Generally Accepted Accounting Principles throughout this press release, DGSE has presented non-GAAP financial measures such as EBITDA. The Company believes that these non-GAAP measures, viewed in addition to and not in lieu of the Company's reported GAAP results, provide useful information to investors because they are an integral part of the Company's internal evaluation of operating performance. In addition, they are measures that DGSE uses to evaluate management's effectiveness. DGSE’s non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies.
DGSE Companies, Inc.
William H. Oyster, 972-484-3662
Chairman and CEO