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Document and Entity Information - shares | 3 Months Ended | |
---|---|---|
Sep. 30, 2020 | Nov. 05, 2020 | |
Cover [Abstract] | ||
Entity Registrant Name | A-Mark Precious Metals, Inc. | |
Entity Central Index Key | 0001591588 | |
Entity Tax Identification Number | 11-2464169 | |
Entity File Number | 001-36347 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Non-accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2020 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 2121 Rosecrans Ave | |
Entity Address, Address Line Two | Suite 6300 | |
Entity Address, City or Town | El Segundo | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90245 | |
City Area Code | 310 | |
Local Phone Number | 587-1477 | |
Title of 12(b) Security | Common Stock, $0.01 par value | |
Trading Symbol | AMRK | |
Security Exchange Name | NASDAQ | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Common Stock, Shares Outstanding | 7,090,066 |
Please wait while we load the requested 10-Q report or click the link below:
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Amark Precious Metals, Inc..
Amark Precious Metals, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:
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As compared to the same year-ago period, interest expense related to notes payable and Trading Credit Facility decreased by $0.7 million and loan servicing costs decreased by $0.3 million.
Excluding the impact of inter-segment sales from the Direct Sales segment to the Wholesale Trading & Ancillary Services segment, the Direct Sales segment's gross profit margin percentage increased by 10.3 basis points or by 0.9% to 11.563% from 11.460% in 2019.
The use of cash due to changes in working capital balances included: derivative assets, receivables, inventories, and liabilities on borrowed metals, partially offset by an increase in cash due to changes in working capital balances of: accounts payable and other current liabilities and precious metals held under financing arrangements.
The precious metal component of the inventory may be hedged through the use of precious metal commodity positions, while the premium component of our inventory is not a commodity that may be hedged.
The increase of $0.3 million was due to royalty income earned from a related party.
The Company recognizes interest and...Read more
Also, the Company recognizes its...Read more
The high volume, rapid rate...Read more
Forward sales increase revenues but...Read more
Forward sales increase revenues but...Read more
This segment's profit margin percentage...Read more
The aggregate increase was primarily...Read more
The Company's profit margin percentage...Read more
As compared to the same...Read more
Factors that could cause or...Read more
The overall gross profit increase...Read more
Product supply constraints during extended...Read more
This increase in cash used...Read more
When these contracts are net...Read more
Operating activities used $98.1 million...Read more
The change was primarily due...Read more
In periods of higher volatility,...Read more
The Company's overall gross margin...Read more
Our strategy continues to focus...Read more
These limits include gross position...Read more
We intend to promote our...Read more
For contracts that are net...Read more
Our policy is to substantially...Read more
The interest income from our...Read more
If the Company concludes that...Read more
Greater volatility typically causes the...Read more
The Company records commodity forward...Read more
Interest expense for the three...Read more
Interest expense for the three...Read more
The overall gross profit increase...Read more
Effective March 27, 2020, through...Read more
The Company operates in a...Read more
Since we quote prices based...Read more
The cash generated from our...Read more
The increase in trading ticket...Read more
Selling, general and administrative expenses...Read more
Interest expense primarily decreased due...Read more
This had the effect of...Read more
The decrease in interest income...Read more
The decrease in interest income...Read more
Inventory includes amounts borrowed from...Read more
For the three months ended...Read more
The Company also continually monitors...Read more
The Company's gains (losses) on...Read more
Selling, general and administrative expenses...Read more
Selling, general and administrative expenses...Read more
Selling, general and administrative expenses...Read more
However, the gains and losses...Read more
Unallocated or pool metal represents...Read more
As of September 30, 2020...Read more
The premium is attributable to...Read more
On September 3, 2020, the...Read more
If the Company concludes that...Read more
Our open sale and purchase...Read more
Revenues for the three months...Read more
Revenues for the three months...Read more
Revenues for the three months...Read more
Included in this section is...Read more
The Direct Sales ticket volume...Read more
Our working capital requirements fluctuate...Read more
The change in interest expense...Read more
Gross profit for the three...Read more
Gross profit for the three...Read more
Gross profit for the three...Read more
A combination of price volatility,...Read more
A combination of price volatility,...Read more
A combination of price volatility,...Read more
The increase was primarily due...Read more
For this reason, the Company...Read more
Interest income for the three...Read more
Interest income for the three...Read more
We use a variety of...Read more
The following table summarizes the...Read more
When the market price of...Read more
Unlike our bullion coins, the...Read more
Interest expense for the three...Read more
Our inventory turnover rate for...Read more
Numerous CFC loans were paid...Read more
Our effective tax rate was...Read more
All subsequent written and oral...Read more
The Company also uses other...Read more
The Company also performs impairment...Read more
If through a quantitative analysis...Read more
The obligation is stated at...Read more
The obligation is stated at...Read more
Our inventory consists of, and...Read more
This step requires us to...Read more
The Company's wholly owned subsidiary,...Read more
Other income, net for the...Read more
Other income, net for the...Read more
As of September 30, 2020,...Read more
The number of secured loans...Read more
The number of secured loans...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Amark Precious Metals, Inc. provided additional information to their SEC Filing as exhibits
Ticker: AMRK
CIK: 1591588
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-053626
Submitted to the SEC: Thu Nov 12 2020 5:02:13 PM EST
Accepted by the SEC: Thu Nov 12 2020
Period: Wednesday, September 30, 2020
Industry: Wholesale Jewelry Watches Precious Stones And Metals