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Document and Entity Information - shares | 9 Months Ended | |
---|---|---|
Mar. 31, 2019 | May 06, 2019 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | A-Mark Precious Metals, Inc. | |
Entity Central Index Key | 0001591588 | |
Trading Symbol | AMRK | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Non-accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 7,031,450 |
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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 2019 10-K Annual Report includes:
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Excluding the impact of intercompany sales from the Direct Sales segment to the Wholesale Trading & Ancillary Services segment, the Direct Sales segment's gross profit margin percentage increased by 32.1% to 11.660% from 8.830% in 2018.
In fiscal 2016, the Board of Directors modified the policy by increasing the quarterly cash dividend to $0.07 per common share, and in fiscal 2017 the quarterly cash dividend was increased to $0.08 per common share.
As compared to the same year-ago period, the following interest expense components increased by: (i) $1.1 million, related to our long-term notes payable (including debt amortization costs) that was issued in first quarter of fiscal year 2019 and (ii) $0.1 million, related to our liability on borrowed metals, partially offset by (iii) $(0.2) million related to product financing arrangements and (iv) $(0.2) million related to the Goldline Credit Facility.
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.
Overall gross profit increased primarily due to improved gross profits that were primarily due to improved sales volumes; primarily offset by lower trading profits.
Overall gross profit increased primarily...Read more
As compared to the same...Read more
The decrease in selling, general...Read more
The decrease in selling, general...Read more
The Company?s profit margin percentage...Read more
The Company?s profit margin percentage...Read more
The Company?s profit margin percentage...Read more
For the nine months ended...Read more
The high volume, rapid rate...Read more
Other finance product income was...Read more
Factors that could cause or...Read more
When these contracts are net...Read more
Our revenues decreased primarily due...Read more
Our revenues decreased primarily due...Read more
Typically, these forward contracts are...Read more
Operating activities provided $20.4 million...Read more
Investing activities used $5.7 million...Read more
Financing activities used $16.2 million...Read more
The Company?s gross margin percentage...Read more
The Company?s gross margin percentage...Read more
In periods of higher volatility,...Read more
The outstanding principal and unpaid...Read more
Overall gross profit increased primarily...Read more
The aggregate increase in interest...Read more
These limits include gross position...Read more
Our finance fees earned related...Read more
We intend to promote our...Read more
Our policy is to substantially...Read more
Product supply constraints during extended...Read more
Three Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
If the Company concludes that...Read more
Overall gross profit increased due...Read more
The Company records commodity forward...Read more
Our strategy continues to focus...Read more
The decrease in our inventory...Read more
The decrease in our inventory...Read more
Effective March 29, 2019, through...Read more
The Company operates in a...Read more
Since we quote prices based...Read more
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The increase was related primarily...Read more
The increase was related primarily...Read more
The annual tax rate includes...Read more
This period over period increase...Read more
Excluding intercompany sales from the...Read more
Excluding intercompany sales from the...Read more
Our revenues decreased primarily due...Read more
Our revenues decreased primarily due...Read more
Inventories include amounts borrowed from...Read more
For contracts that are net...Read more
The Company also continually monitors...Read more
The Company?s gains (losses) on...Read more
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The Company also anticipated that...Read more
However, the gains and losses...Read more
Unallocated or pool metal represents...Read more
As of March 31, 2019...Read more
Greater volatility typically causes the...Read more
The increase in our trading...Read more
The increase in our trading...Read more
The increase in our trading...Read more
The increase in our trading...Read more
The premium is attributable to...Read more
The identifiable assets acquired, liabilities...Read more
If the Company concludes that...Read more
Our open sale and purchase...Read more
Included in the discussion of...Read more
The wholesale trading ticket volume...Read more
The wholesale trading ticket volume...Read more
The Direct Sales segment ticket...Read more
The Direct Sales segment ticket...Read more
Our working capital requirements fluctuate...Read more
Three Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
Our Direct Sales Segment reported...Read more
Our Direct Sales Segment reported...Read more
The lower effective tax rate,...Read more
The lower effective tax rate,...Read more
We use a variety of...Read more
The following table summarizes the...Read more
Unlike our bullion coins, the...Read more
As compared to the same...Read more
As compared to the same...Read more
As of March 31, 2019,...Read more
This period over period increase...Read more
Our effective tax rate was...Read more
Our effective tax rate was...Read more
Our inventories consist of, and...Read more
All subsequent written and oral...Read more
The Company also performs impairment...Read more
If through a quantitative analysis...Read more
These net gains (losses) on...Read more
The obligation is stated at...Read more
The obligation is stated at...Read more
The difference between the amount...Read more
This step requires us to...Read more
The Company's wholly-owned subsidiary, A-M...Read more
Three Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
Three Months Ended March 31,...Read more
Nine Months Ended March 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: 0001591588-19-000014
Submitted to the SEC: Fri May 10 2019 8:06:00 AM EST
Accepted by the SEC: Fri May 10 2019
Period: Sunday, March 31, 2019
Industry: Wholesale Jewelry Watches Precious Stones And Metals