DALLAS (December 19, 2012) DGSE Companies, Inc. (NYSE MKT: DGSE) today announced the filing of an amendment to its 2011 Form 10-K. On October 31, 2012 DGSE filed its restated Consolidated Financial Statements for the fiscal year ended December 31, 2010 (“Fiscal 2010”) and its Consolidated Financial Statements for the fiscal year ended December 31, 2011 (“Fiscal 2011”). Today’s filing provides additional information for shareholders, related to interim periods within its previously reported Fiscal 2010 and Fiscal 2011 results, as well as additional tabular disclosure related to previously reported restatements. Today’s filing does not change or restate any annual audited information provided in the October 31, 2012 filing. The Company believes this information will provide shareholders additional insight into the recent restatement and a better understanding of restated interim period results.
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About DGSE Companies, Inc.
DGSE Companies, Inc. wholesales and retails jewelry, diamonds, fine watches, and precious metal bullion and rare coin products through its Bullion Express, Charleston Gold & Diamond Exchange, Dallas Gold & Silver Exchange and Southern Bullion Coin & Jewelry operations. DGSE also owns Fairchild International, Inc., one of the largest vintage watch wholesalers in the country. In addition to its retail facilities in Alabama, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee and Texas, the Company operates internet websites which can be accessed at www.bullionexpress.com, www.dgse.com, www.cgdeinc.com and www.sbcoin.com. Real-time price quotations and real-time order execution in precious metals are provided on another DGSE website at www.USBullionExchange.com. Wholesale customers can access the full vintage watch inventory through the restricted site at www.FairchildWatches.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 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.
DGSE Companies, Inc.
C. Brett Burford
Chief Financial Officer