A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Q4 2024 Earnings Conference Call August 29, 2024 4:30 PM ET
Company Participants
Greg Roberts - Chief Executive Officer
Thor Gjerdrum - President
Kathleen Simpson Taylor - Chief Financial Officer
Conference Call Participants
Thomas Forte - Maxim Group
Andrew Scutt - ROTH Capital Partners
Greg Gibas - Northland Securities
Sy Jacobs - Jacobs Asset Management
Operator
Good afternoon. And welcome to A-Mark Precious Metals Conference Call for the Fiscal Fourth Quarter and Full Year ended June 30, 2024. My name is John, and I will be your operator this afternoon.
Before this call, A-Mark issued its preliminary results for the fiscal fourth quarter and full year 2024 in a press release, which is available in the Investor Relations section of the company’s website at www.amark.com. You can find the link to the Investor Relations section at the top of the home page.
The company’s results are preliminary because the company has not yet concluded its review of the valuation and related purchase accounting surrounding the increase in its investment in Silver Gold Bull, Inc.
The results presented include an estimate, which management believes is reasonable, of the amount of the re-measurement gain associated with the SGB transaction. The re-measurement gain may be adjusted once the company finalizes its review, but management does not expect any such adjustment to exceed $5 million.
Such adjustment, if it occurs, would be reflected in the company’s income statement and corresponding balance sheet items. The re-measurement gain is a non-cash item, relates solely to the accounting treatment for the acquisition of a controlling interest in SGB, has no impact on taxes and is not related to the company’s operating results.
Joining us for today’s call are A-Mark’s CEO, Greg Roberts; President, Thor Gjerdrum; and CFO, Kathleen Simpson Taylor.
Following their remarks, we will open the call to your questions. Then, before we conclude the call, I’ll provide the necessary cautions regarding the forward-looking statements made by management during this call. I would like to remind everyone that this call is being recorded and will be made available for replay via a link available in the Investor Relations section of A-Mark’s website.
Now, I would like to turn the call over to A-Mark’s CEO, Mr. Greg Roberts. Sir, please proceed.
Greg Roberts
Thank you, John, and good afternoon to everyone. Thank you for joining our call today. As we reported in our earnings release today, our fiscal year 2024 results demonstrate the continued strength and adaptability of our fully integrated platform to generate profitable results even during slower market conditions.