Page 1

May 12 , 2021 A - MARK PRECIOUS METALS , INC . ALeader In Precious Metals Since 1965 A - Mark Precious Metals Reports Record Fiscal Third Quarter 2021 Results EL SEGUNDO , Calif . , May 12 , 2021 ( GLOBE NEWSWIRE ) -- A - Mark Precious Metals , Inc. ( NASDAQ : AMRK ) , a leading full - service provider of products and services to the global precious metals market , reported results for the fiscal third quarter ended March 31 , 2021 . A - Mark reported over $ 2 billion in revenue and record earnings in its fiscal third quarter , boosted by strong market conditions and the completion of the most significant acquisition in its history . The company's acquisition of JM Bullion ( " JMB " ) , a leading internet retailer of precious metals , was completed on March 19 , 2021. Significantly , JMB has contributed $ 8.5 million of gross profit and $ 6.8 million of pre - tax income to the company's Direct - to- Consumer segment in the last 12 days of March following the acquisition . We had the strongest quarter of financial performance in A - Mark's history with net income of $ 50.3 million , excluding a one - time $ 26.3 million remeasurement gain resulting from the JMB acquisition . The company also welcomed new shareholders during the third quarter from the company's public offering and the issuance of stock as part of the acquisition consideration for JMB , growing our market cap and bringing our common shares outstanding to 11.1 million . Financial highlights and results of our fiscal third quarter and fiscal nine months follow : Fiscal Third Quarter 2021 Financial Highlights • Revenues for the three months ended March 31 , 2021 increased 63 % to $ 2.05 billion from $ 1.26 billion for the three months ended March 31 , 2020 and increased 35 % from $ 1.52 billion for the three months ended December 31 , 2020 • Gross profit for the three months ended March 31 , 2021 increased 203 % to $ 68.2 million ( 3.33 % of revenue ) from $ 22.5 million ( 1.79 % of revenue ) for the three months ended March 31 , 2020 and increased 264 % from $ 18.8 million ( 1.24 % of revenue ) for the three months ended December 31 , 2020 • Net income attributable to the company for the three months ended March 31 , 2021 totaled $ 76.6 million or $ 8.84 per diluted share , as compared to net income of $ 11.3 million or $ 1.61 per diluted share for the three months ended March 31 , 2020 and net income of $ 8.9 million or $ 1.16 per diluted share for the three months ended December 31 , 2020. Net income attributable to the company for the three months ended March 31 , 2021 included a $ 26.3 million remeasurement gain on its pre - existing equity interest in JMB in connection with its acquisition . • Gold ounces sold in the three months ended March 31 , 2021 increased 52 % to 771,000 ounces from 508,000 ounces for the three months ended March 31 , 2020 and increased 61 % from 479,000 ounces for the three months ended December 31 , 2020