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DALLAS GOLD AND SILVER EXCHANGE ANNOUNCES THIRD QUARTER AND NINE-MONTH RESULTS

Receipt of First Shipment of Black Pearls From Tahiti and Completion
 of Move of Executive Offices to Dallas Also Announced
 DALLAS, Nov. 16 ~PRNewswire~ -- Dallas Gold and Silver Exchange Inc. (DGSE) (AMEX: DLS.EC) announced today operating results for the three months ended September 1992. Sales for the three months increased by approximately 2 percent to $2,609,355, from $2,571,853, in the prior-year period. The company reported that operating results showed a loss of $51,804, or less than .01 per share, for the period vs. a profit of $5,527 in the year-earlier period. The company indicated that the reported loss for the period reflects a small contraction of gross margins on jewelry sales for the period reflecting inventory preparation for the Christmas selling season. For the nine-month period total operating losses declined from $96,137, or .02 per share, in the prior-year period to $79,398, or .01, for the current period. Management indicated that it anticipates a strong fourth quarter and positive operating earnings for the full year.
 DGSE also announced that it had received its first shipment of rare black pearls from Tahiti from its joint venture partner. Management said "the receipt of the exclusive high-end and high- margin product in time for the Christmas selling season will enhance DGSE's unique position as a fully integrated JEWELRY SUPERSTORE which wholesales and retails fine jewelry products, precious metals bullion, and numismatic items to consumers throughout the United States from its headquarters facility in Dallas, Texas."
 DGSE further announced that it had completed the move of substantially all or its executive operations and staff to its company-owned facility in Dallas.


Management indicated that the move was designed to produce a significant reduction in general and administrative overhead in 1993.
 DALLAS GOLD AND SILVER EXCHANGE INC. AND SUBSIDARY
 Condensed Consolidated Statements of Operations
 (Unaudited)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenues:
 Sales $2,584,770 $2,549,471 $7,690,759 $12,449,658
 Pawn service
 fees 11,875 11,420 36,452 30,943
 Interest income 1,710 --- 15,309 ---
 Other income 11,000 10,692 11,650 10,962
 Total 2,609,355 2,571,853 7,754,170 12,491,563
 Costs and
 expenses:
 Cost of sales 2,275,227 2,193,474 6,673,590 11,173,943
 General and
 administra-
 tive expenses 344,213 326,850 1,020,062 1,251,234
 Depreciation
 and
 amortization 23,685 26,147 78,606 82,647
 Interest
 expense 18,034 19,855 61,310 67,384
 Equity in net
 loss of NUSA --- --- --- 22,100
 Minority
 interest in
 earnings of
 subsidiary --- --- --- (9,608)
 Total costs
 and
 expenses 2,661,159 2,566,326 7,833,568 12,587,700
 Net income
 (loss) ($51,804) $5,527 ($79,398) ($96,137)
 Net income
 (loss) per
 share of
 common stock ($.01) (a) ($.01) ($.02)
 (a) Less than $.01 per share.
 -0- 11~16~92
 ~CONTACT: William Oyster, president of Dallas Gold and Silver Exchange, 800-527-5307~
 (DLS)


CO: Dallas Gold and Silver Exchange Inc. ST: Texas IN: SU: ERN

EH-KJ -- LA032 -- 1494 11~16~92 17:00 EST
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Publication:PR Newswire
Date:Nov 16, 1992
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