A-Mark Precious Metals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Customer and Supplier Concentrations

Customer and Supplier Concentrations

6 Months Ended

Dec. 31, 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 and six months ended December 31, 2018 and 2017 are presented on a comparative basis in the table below:



in thousands
		Three Months Ended								Six Months Ended
		December 31, 2018				December 31, 2017				December 31, 2018				December 31, 2017
		Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent
Total revenue		$	1,100,912	100.0	%	$	1,680,738	100.0	%	$	2,666,002	100.0	%	$	3,844,528	100.0	%
Customer concentrations
HSBC Bank USA⁽¹⁾		$	244,871	22.2	%	$	407,509	24.2	%	$	624,993	23.4	%	$	918,773	23.9	%
Mitsubishi Intl. Corp. ⁽¹⁾		104,026		9.5		382,761		22.8		354,932		13.4		919,874		23.9
		$	348,897	31.7	%	$	790,270	47.0	%	$	979,925	36.8	%	$	1,838,647	47.8	%
________________________________
(1)	Sales with this trading partner is primarily comprised of sales on forward contracts that are 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 December 31, 2018 and June 30, 2018 are presented on a comparative basis in the table below:



in thousands
	December 31, 2018				June 30, 2018

	Amount		Percent		Amount		Percent
Total accounts receivable, net	$	23,275	100.0	%	$	35,856	100.0	%
Customer concentrations
Customer A	$	3,558	15.2	%	$	14,967	41.7	%
Customer B	5,179		22.3		7,468		20.8
	$	8,737	37.5	%	$	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.