Quarterly report pursuant to Section 13 or 15(d)

Customer and Supplier Concentrations

v3.10.0.1
Customer and Supplier Concentrations
 3 Months Ended
Sep. 30, 2018
Risks and Uncertainties [Abstract]  
Customer and Supplier Concentrations
CUSTOMER AND SUPPLIER CONCENTRATIONS
Customer Concentration
Customers providing 10 percent or more of the Company's revenues for the three months ended September 30, 2018 and 2017 are presented on a comparative basis in the table below:
 
in thousands
 
 
 
 
Three Months Ended September 30,
 
2018
 
2017
 
 
 
 
Amount
 
Percent
 
Amount
 
Percent
 
Total revenue
 
$
1,565,090

 
100.0
%
 
$
2,163,790

 
100.0
%
 
Customer concentrations
 
 
 
 
 
 
 
 
 
HSBC Bank USA (1)
 
$
380,122

 
24.3
%
 
$
511,264

 
23.6
%
 
Mitsubishi Intl. Corp. (1)
 
250,906

 
16.0

 
537,113

 
24.9

 
 
 
 
$
631,028

 
40.3
%
 
$
1,048,377

 
48.5
%
 
________________________________
 
(1)
Sales with this trading partner is primarily comprised of sales on forward contracts that entered into for hedging purposes rather than sales characterized with the physical delivery of precious metal product.
 
    
Customers providing 10 percent or more of the Company's accounts receivable as of September 30, 2018 and June 30, 2018 are presented on a comparative basis in the table below:
in thousands
 
 
 
 
 
 
 
 
 
 
September 30, 2018
 
June 30, 2018
 
 
 
 
 
 
 
Amount
 
Percent
 
Amount
 
Percent
Total accounts receivable, net
 
$
57,332

 
100.0
%
 
$
35,856

 
100.0
%
Customer concentrations
 
 
 
 
 
 
 
 
Customer A
 
$
25,354

 
44.2
%
 
$
14,967

 
41.7
%
Customer B
 
6,915

 
12.1

 
7,468

 
20.8

 
 
$
32,269

 
56.3
%
 
$
22,435

 
62.5
%

The loss of any of the above listed customers could have a material adverse effect on the operations of the Company.
Supplier Concentration
The Company buys precious metals from a variety of sources, including through brokers and dealers, from sovereign and private mints, from refiners and directly from customers. The Company believes that no one or small group of suppliers is critical to its business, since other sources of supply are available that provide similar products on comparable terms.