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Collectors Universe CEO Discusses F1Q2012 Results - Earnings Call Transcript

Fourth, you will note that G&A expense year on year is also up considerable. Approximately 50% of this increase relates to variable/incentive compensation that is directly related to the underlying growth in our business. The other 50% relate to items we largely consider one-time in nature and they’ve occurred in the areas of legal expense, Coinflation acquisition expense, primarily legal expenses there, expenses related to the search for Chief Digital Officer that I mentioned on our last call and expenses related to IT activities regarding the financial software package mentioned above.

Number five, I just wanted to give you statistics related our web properties, given that is an area of emphasis for us. Three quick numbers for you, in terms of web traffic, we have visits, run rate visits per month of approximately three million.

Our absolute unique visitors are approximately 1.15 million and our page views are approximate 13.5 million. This occurs over eight properties and PCGS, PSA, PCE, Collectors Corner, Coinflation, our various forums, PCGS, CoinFacts, and then CoinFacts subscription services itself [ph].

Looking forward, our backlog remains very strong. At present, it is up approximately 40%, compared to the same time in the prior year. Our balance sheet remains strong and we increased cash flow from operations by approximately 50% as compared to the first quarter of last year. Strategically, we remain excited about our international opportunities on both the European continent and increasingly in Asia.

We will continue to drive growth from our digital activities and the addition of a Chief Digital Officer will, we anticipate, accelerate this area in the latter half of the current fiscal year and then obviously into the future. The search is going well and we anticipate making a decision by the end of the calendar year. Moreover, PSA/DNA opened an East Coast store during the quarter and we are seeing a solid ramp to that location and we have very prudent and thoughtful in our cost of entry.

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