The purchase of A-Mark Precious Metals resulted in increased aggregate sales for Escala Group, Inc., for the first quarter of its 2006 fiscal year.
Escala announced its first quarter financial results on Nov. 8.
Listed on Nasdaq as ESCL, the company had a net income of $9.3 million for the quarter, compared to $5.1 million for the first quarter of the 2005 fiscal year, an increase of 81.6 percent.
Revenue was $558.9 million versus $48.1 million in the previous year period.
Aggregate sales were $576.6 million versus $65.2 million for the prior year period.
According to Escala, the increase in aggregate sales was due largely to the inclusion of $494.3 million of sales revenues from Escala’s A-Mark unit.
On July 15, Escala Group acquired 80 percent of the issued and outstanding shares of A-Mark Precious Metals.
The company recorded an increase in total revenues in collectibles of approximately $16.6 million to approximately $64.7 million for the three months ended Sept. 30, 2005 from approximately $48.1 million for the same period of fiscal 2005.
To learn more about Escala Group, Inc., visit the company’s Web site at www.escalagroup.com.
Escala Group’s North American operations include Greg Manning Auctions division, Spectrum Numismatics, Teletrade, Bowers and Merena Auctions, and Kingswood Coin Auctions, among other divisions.