Annual report pursuant to Section 13 and 15(d)

Segment and Geographic Information (Tables)

v3.10.0.1
Segment and Geographic Information (Tables)
12 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Schedule of segment reporting information, by segment
in thousands
 
 
 
 
 
Year Ended
 
Three Months Ended September 30,
 
June 30, 2018
 
June 30, 2017
 
Revenue by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
$
7,538,856

 
$
6,989,624

 
Direct Sales
 
67,392

(1) 
N/A

 
Total revenue
 
$
7,606,248

 
$
6,989,624

 
 
 
 
 
 
 
_________________________________
 
 
 
 
 
(1) Includes $22.5 million of intercompany sales from the Direct Sales segment to the Wholesale Trading & Ancillary Services segment. The elimination of these intercompany sales are reflected in the Wholesale Trading & Ancillary Services segment.
 
 
 
 
 
 
 

in thousands
 
 
 
 
 
Year Ended
 
Three Months Ended September 30,
 
June 30, 2018
 
June 30, 2017
 
Revenue by geographic region
(as determined by the shipping address or where the services were performed):
 
United States
 
$
7,081,161

 
$
6,537,863

 
Europe
 
303,514

 
260,489

 
North America, excluding United States
 
214,895

 
177,734

 
Asia Pacific
 
3,554

 
7,706

 
Africa
 
1

 

 
Australia
 
3,123

 
5,832

 
Total revenue
 
$
7,606,248

 
$
6,989,624

 
 
 
 
 
 
 
Gross Profit and Gross Margin Percentage
in thousands
 
 
 
 
 
Year Ended
 
Three Months Ended September 30,
 
June 30, 2018
 
June 30, 2017
 
Gross profit by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
$
24,109

 
$
31,334

 
Direct Sales
 
5,334

 
N/A

 
Total gross profit
 
$
29,443

 
$
31,334

 
Gross margin percentage by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
0.320
%
 
0.448
%
 
Direct Sales
 
7.915
%
 
N/A

 
Weighted average gross margin percentage
 
0.387
%
 
0.448
%
 
 
 
 
 
 
 
Operating Income and Expenses
in thousands
 
 
 
Years Ended June 30,
 
2018
 
2017
 
Operating income and expenses by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
 
 
 
 
Selling, general and administrative expenses
 
$
(21,096
)
 
$
(21,529
)
 
Interest income
 
$
6,473

 
$
4,814

 
Interest expense
 
$
(7,778
)
 
$
(6,176
)
 
Other income, net
 
$
984

 
$
358

 
Secured Lending
 
 
 
 
 
Selling, general and administrative expenses
 
$
(1,689
)
 
$
(1,814
)
 
Interest income
 
$
9,632

 
$
7,739

 
Interest expense
 
$
(5,465
)
 
$
(3,941
)
 
Direct Sales
 
 
 
 
 
Selling, general and administrative expenses
 
$
(10,613
)
 
N/A

 
Goodwill and intangible asset impairment
 
$
(2,654
)
 
N/A

 
Interest expense
 
$
(648
)
 
N/A

 
Net (loss) income before provision for income taxes
in thousands
 
 
 
Years Ended June 30,
 
2018
 
2017
 
Net (loss) income before provision for income taxes by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
$
2,692

 
$
8,801

 
Secured Lending
 
2,478

 
1,984

 
Direct Sales
 
(8,581
)
 
N/A

 
Total net (loss) income before provision for income taxes
 
$
(3,411
)
 
$
10,785

 
Depreciation and Amortization
in thousands
 
 
 
Years Ended June 30,
 
2018
 
2017
 
Depreciation and amortization by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
$
(1,560
)
 
$
(1,511
)
 
Secured Lending
 
(3
)
 
(10
)
 
Direct Sales
 
(1,063
)
 
N/A

 
Total depreciation and amortization
 
$
(2,626
)
 
$
(1,521
)
 
Advertising expense
in thousands
 
 
 
Years Ended June 30,
 
2018
 
2017
 
Advertising expense by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
$
(553
)
 
$
(646
)
 
Secured Lending
 
(28
)
 
(27
)
 
Direct Sales
 
(2,653
)
 
N/A

 
Total advertising expense
 
$
(3,234
)
 
$
(673
)
 
Precious metals held under financing arrangements
in thousands
 
 
 
 
 
 
 
June 30, 2018
 
June 30, 2017
 
Precious metals held under financing arrangements by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
$
262,566

 
$

 
Total precious metals held under financing arrangements
 
$
262,566

 
$

 
 
 
 
 
 
 
Inventory
in thousands
 
 
 
 
 
 
 
June 30, 2018
 
June 30, 2017
 
Inventories by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
$
272,034

 
$
284,659

 
Direct Sales
 
8,082

 
N/A

 
Total inventories
 
$
280,116

 
$
284,659

 
in thousands
 
 
 
 
 
 
 
June 30, 2018
 
June 30, 2017
 
Inventories by geographic region
 
 
 
 
 
United States
 
$
273,008

 
$
276,809

 
Europe
 
1,965

 
3,154

 
North America, excluding United States
 
4,976

 
4,310

 
Asia
 
167

 
386

 
Total inventories
 
$
280,116

 
$
284,659

 
 
 
 
 
 
 
Assets
in thousands
 
 
 
 
 
 
 
June 30, 2018
 
June 30, 2017
 
Assets by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
$
616,522

 
$
478,500

 
Secured Lending
 
111,304

 

 
Direct Sales
 
15,175

 
N/A

 
Total assets
 
$
743,001

 
$
478,500

 
in thousands
 
 
 
 
 
 
 
June 30, 2018
 
June 30, 2017
 
Assets by geographic region
 
 
 
 
 
United States
 
$
733,131

 
$
469,114

 
Europe
 
4,727

 
4,690

 
North America, excluding United States
 
4,976

 
4,310

 
Asia
 
167

 
386

 
Total assets
 
$
743,001

 
$
478,500

 
Long-term Assets
in thousands
 
 
 
 
 
 
 
June 30, 2018
 
June 30, 2017
 
Long-term assets by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
$
31,328

 
$
31,479

 
Secured Lending
 
102

 

 
Direct Sales
 
4,588

 
N/A

 
Total long-term assets
 
$
36,018

 
$
31,479

 
in thousands
 
 
 
 
 
 
 
June 30, 2018
 
June 30, 2017
 
Long-term assets by geographic region
 
 
 
 
 
United States
 
$
35,965

 
$
31,423

 
     Europe
 
53

 
56

 
Total long-term assets
 
$
36,018

 
$
31,479

 

Capital Expenditures for Property and Equipment
in thousands
 
 
 
Years Ended June 30,
 
2018
 
2017
 
Capital expenditures on plant, property and equipment by segment
 
 
 
 
Wholesale Trading & Ancillary Services
 
$
1,104

 
$
2,265

(2) 
Secured Lending
 
102

 

 
Direct Sales
 
111

(1) 
N/A

 
Total capital expenditures on property and equipment
 
$
1,317

 
$
2,265

 
 
 
 
 
 
 
_________________________________
(1) Excludes $1.8 million of plant, property and equipment that was part of the net assets acquired from Goldline LLC.
(2) Excludes $2.1 million of plant, property and equipment that were part of the net assets acquired from SilverTowne LP.
Goodwill and Intangible Assets
in thousands
 
 
 
 
 
 
 
June 30, 2018
 
June 30, 2017
 
Goodwill and Intangibles by segment
 
 
 
 
 
Wholesale Trading & Ancillary Services
 
$
12,516

 
$
12,946

 
Direct Sales
 
3,226

 
N/A

 
Total goodwill and intangible assets
 
$
15,742

 
$
12,946