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Collectors Universe CEO Discusses F1Q2012 Results - Earnings Call Transcript

Quarter on quarter revenue grew a healthy 23% and operating profit increased by approximately 36%. Our bulk/modern business and world coin submissions continue to lead the company and led the company’s growth in this quarter. A few items or areas of note. Number one, our Paris operation has started the year strongly. Our most recent show several weeks ago beat our budgeted revenues by approximately 50%.

The momentum among the European dealer community appears to be building and we will continue to report to you on our progress in this initiative. Number two, our integration of the Coinflation acquisition that was concluded in mid-September has gone well. You will note our commentary in the 10-Q and can extrapolate a run rate revenue of approximately $35,000 per month. Please understand it is early days and this revenue figure can be volatile often on a day-to-day basis, but the acquisition is currently meeting our expectations.

Moreover, we are beginning to pollinate our other web activities and presence with learnings from Alex [ph] to better fit our overall Collectors Universe digital activities. Number three, you will note our capital expenditure dollars are up in percentage terms considerably from the last several years.

There are two reasons for this. First, we are upgrading for the first time in a long time our basic hardware at the company; computers, computer screens, printers etcetera. Second, we are upgrading for the first time in nearly 10 years our core – significantly upgrading our core financial software package. This, of course, requires both hardware and external software resources.

This financial software package upgrade is scheduled to go live shortly and it was both necessary and at the same time, we expect it to improve our productivity, analytical tools and overall efficiency. This, of course, will not recur again for some time.

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