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Document and Entity Information - shares | 6 Months Ended | |
---|---|---|
Dec. 31, 2020 | Feb. 04, 2021 | |
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 | Dec. 31, 2020 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 | |
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 | 7,195,434 |
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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 2021 10-K Annual Report includes:
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As compared to the same year-ago period, interest expense related to loan servicing costs decreased $0.4 million as fewer loans were outstanding.
As compared to the same year-ago period, interest expense related to loan servicing costs decreased $0.6 million and interest expense related to our notes payable and Trading Credit Facility decreased in aggregate, by $0.8 million.
The overall gross profit increase was due to higher gross profits earned by the Wholesale Sales & Ancillary Services and Direct Sales segments.
Excluding the impact of inter-segment sales from the Direct Sales segment to the Wholesale Sales & Ancillary Services segment, the Direct Sales segment's gross profit margin percentage increased by 27.7% to 14.082% from 11.025% in 2019.
Excluding the impact of inter-segment sales from the Direct Sales segment to the Wholesale Sales & Ancillary Services segment, the Direct Sales segment's gross profit margin percentage increased by 14.6% to 12.801% from 11.167% in 2019.
The aggregate increase was primarily...Read more
The precious metal component of...Read more
The Company recognizes interest and...Read more
The aggregate increase was primarily...Read more
Also, the Company recognizes its...Read more
The aggregate increase was primarily...Read more
The aggregate increase was primarily...Read more
The Company's profit margin percentage...Read more
For the six months ended...Read more
The high volume, rapid rate...Read more
Forward sales increase revenues but...Read more
Forward sales increase revenues but...Read more
Forward sales increase revenues but...Read more
This segment's profit margin percentage...Read more
This segment's profit margin percentage...Read more
Factors that could cause or...Read more
The overall gross profit increase...Read more
The overall increase is primarily...Read more
Product supply constraints during extended...Read more
When these contracts are net...Read more
As compared to the same...Read more
The Wholesale Sales & Ancillary...Read more
The change was primarily due...Read more
The change was primarily due...Read more
Financing activities provided $217.5 million...Read more
In periods of higher volatility,...Read more
The overall gross profit increase...Read more
The overall gross profit increase...Read more
The Company's overall gross margin...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
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
If the Company concludes that...Read more
This period over period increase...Read more
Greater volatility typically causes the...Read more
The Company records commodity forward...Read more
The change was primarily due...Read more
Effective March 27, 2020, through...Read more
The Company operates in a...Read more
Since we quote prices based...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Excluding inter-segment sales from the...Read more
The increase in Direct Sales...Read more
The increase in Direct Sales...Read more
Excluding inter-segment sales from the...Read more
This had the effect of...Read more
The decrease in interest income...Read more
The decrease in interest income...Read more
The decrease in interest income...Read more
The decrease in interest income...Read more
Inventory includes amounts borrowed from...Read more
The Company also continually monitors...Read more
The Company's gains (losses) on...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
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These net losses on derivative...Read more
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Six Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
However, the gains and losses...Read more
Unallocated or pool metal represents...Read more
As of December 31, 2020...Read more
For the three months ended...Read more
For the six months ended...Read more
The premium is attributable to...Read more
If the Company concludes that...Read more
Our open sale and purchase...Read more
Included in this section is...Read more
The Direct Sales ticket volume...Read more
The Direct Sales ticket volume...Read more
Our working capital requirements fluctuate...Read more
The change in interest expense...Read more
The change in interest expense...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
The increase was primarily due...Read more
For this reason, the Company...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
A combination of price volatility,...Read more
A combination of price volatility,...Read more
A combination of price volatility,...Read more
A combination of price volatility,...Read more
A combination of price volatility,...Read more
A combination of price volatility,...Read more
Three Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Numerous CFC loans were paid...Read more
Our effective tax rate was...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
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
Our inventory consists of, and...Read more
The decrease in our Wholesale...Read more
The decrease in our Wholesale...Read more
This step requires us to...Read more
The Company's wholly-owned subsidiary, AMGL...Read more
Interest income from our Secured...Read more
The interest income from our...Read more
As of December 31, 2020,...Read more
Three Months Ended December 31,...Read more
Six Months Ended December 31,...Read more
The number of secured loans...Read more
The number of secured loans...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: 0001564590-21-005305
Submitted to the SEC: Wed Feb 10 2021 5:09:48 PM EST
Accepted by the SEC: Wed Feb 10 2021
Period: Thursday, December 31, 2020
Industry: Wholesale Jewelry Watches Precious Stones And Metals