Benzinga | Nov 4, 2021 06:46AM EDT

Envela Q3 Earnings Top Estimates

* Envela Corp (NYSE:ELA) reported a third-quarter FY21 sales decline of 2.8% year-on-year, to $37.7 million, beating the analyst consensus of $37.66 million.

* Revenue improved 12% on a quarter-over-quarter basis.

* The company's DGSE's revenue declined 9.3% Y/Y and constituted 68% of total revenue, ECHG subsidiary rose 14% and comprised 32% of total revenue.

* The gross profit rose 12.5% Y/Y to $8.1 million.

* EPS of $0.12 beat the analyst consensus of $0.08.

* Price Action: ELA shares closed lower by 1.6% at $4.25 on Wednesday.