DALLAS--(BUSINESS WIRE)--Dallas Gold & Silver Exchange (NYSE Amex: DGSE) recently deployed a radio-frequency identification (RFID) inventory management solution from Electronic Inventory Solutions (EIS) in its showroom stores in Texas, California, and South Carolina for the dual purposes of automating the inventory count process and adding additional physical security. Using RFID tags, handheld RFID readers and EIS software, DGSE has achieved significantly reduced inventory count times (up to 85%), increased inventory accuracy (99.7%) and improved inventory control processes which cumulatively will improve margins across the entire organization.
Working with DGSE, EIS delivered an RFID solution using near field RFID tags, RFID handheld readers, the EIS Portal System and EIS proprietary software that is integrated into DGSE’s proprietary point-of-sale (POS) system. The solution allows DGSE to use the same RFID tag to provide tighter inventory management and an additional layer of physical security within DGSE’s inventory management processes.
Diane Goff, DGSE’s Manager Internal Controls said, “EIS was able to provide us with a complete RFID solution that met our current needs and budget and a clear path to deploy the solution across all of our operations.”
Darryl Hubbard of EIS observed, “DGSE wanted an RFID solution that would provide an immediate ROI by reducing inventory count cycles and stronger article surveillance. In addition to working within their POS system, the solution also had to be expandable to meet future RFID needs as DGSE continues to grow its presence in targeted markets. In the future, DGSE is positioned to move to real-time inventory control including the ability to track the movement of both inventory items and employees.”
About Electronic Inventory Solutions: Founded in 2003, Electronic Inventory Solutions, Inc. (EIS) is an IT solutions company providing item-level radio frequency identification (RFID) systems to high value markets. We design and manufacture hardware, develop software and integrate RFID components from third-party vendors into total customer solutions. www.rfid-sys.com
DGSE Companies, Inc. wholesales retails and auctions jewelry, diamonds, fine watches, and precious metal bullion and rare coin products to domestic and international customers through its Dallas Gold and Silver Exchange, Charleston Gold and Diamond Exchange, Superior Gold & Diamond Exchange operations as well as through the internet. DGSE also owns Fairchild International, Inc., one of the largest vintage watch wholesalers in the country. In addition to its retail facilities in Dallas and Euless, Texas, Charleston, South Carolina and Woodland Hills, California, the Company operates internet websites which can be accessed at www.dgse.com and through Superior Gold & Diamond Exchange website at www.sgde.com and Charleston Gold & Diamond Exchange at www.cgdeinc.com. Real-time price quotations and real-time order execution in precious metals are provided on another DGSE web site at www.USBullionExchange.com. Wholesale customers can access our full vintage watch inventory through the restricted site at www.FairchildWatches.com. DGSE also purchases precious metals, rare coins, watches, diamonds and jewelry through www.AmericanGoldandSilverExchange.com, and over 900 supporting websites. DGSE also operates an independent website at www.dgsetreausurehunt.com that allows consumers to purchase one of a kind items collected throughout its system. DGSE BullionExpress are specialty precious metals stores currently located in Dallas, Texas and Woodland Hills, California.
The Company is headquartered in Dallas, Texas and its common stock trades on NYSE Amex Exchange under the symbol “DGSE”.
This press release includes statements which may constitute "forward-looking" statements, usually containing the words "believe" "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. In addition to the results presented in accordance with Generally Accepted Accounting Principles throughout this press release, DGSE has presented non-GAAP financial measures such as EBITDA. The Company believes that these non-GAAP measures, viewed in addition to and not in lieu of the Company's reported GAAP results, provide useful information to investors because they are an integral part of the Company's internal evaluation of operating performance. In addition, they are measures that DGSE uses to evaluate management's effectiveness. DGSE’s non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies.