This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Collectors Universe Reports Record Third Quarter Revenue And Operating Income

NEWPORT BEACH, Calif., May 8, 2013 (GLOBE NEWSWIRE) -- Collectors Universe, Inc. (Nasdaq:CLCT), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, today announced financial results for its third quarter of fiscal 2013.

Operational and Financial Highlights:
  • Service revenues increased 11% in this year's third quarter to a quarterly record of $14.5 million, driven by a 13% increase in coin services revenues and a 12% increase in cards and autographs services revenues. Coin services revenues increased to $10.1 million from $8.9 million in last year's third quarter, reflecting a mix of new services revenue, increased show grading activity and pricing changes implemented January 1, 2013.  
  • The services gross profit margin for the third quarter was 64% of revenues, compared to 62% in last year's third quarter, due primarily to the increased revenues in the quarter.  
  • Operating income increased by 35% in the third quarter to a quarterly record of $3.9 million from $2.9 million in last year's third quarter. Operating margin increased to 27% of revenues, compared with 22% of revenues in last year's third quarter.  
  • Income from continuing operations was $2.4 million, or $0.29 per diluted share, and $3.8 million, or $0.47 per diluted share, for the third quarter and nine months, respectively, of fiscal 2013, compared to $1.7 million, or $0.22 per diluted share, and $4.3 million, or $0.54 per diluted share, for the same periods of the prior year.  
  • The Company's cash position increased to $18.7 million at March 31, 2013 from $17.5 million at December 31, 2012. Cash at June 2012 was $21.2 million. Net cash used of $2.5 million for the nine months was comprised of cash generated from continuing operations of $6.5 million, offset by cash payments of $8.2 million of dividends to stockholders, $0.5 million for capital expenditures and $0.3 million used in our discontinued operations.  
  • On April 4, 2013, we announced that our PCGS coin authentication and grading business will expand its international services by establishing operations in Shanghai, China.  
  • On April 29, 2013, we announced our quarterly cash dividend of $0.325 per share, which will be paid on May 31, 2013 to stockholders of record on May 17, 2013.

Commentary and Outlook

Robert Deuster, Chief Executive Officer, stated, "We are very pleased with the performance of all of our coin and sports related businesses this past quarter. Considerable emphasis on enhancing our mix of services for our coin customers is now paying off in increased grading revenue, especially at shows and international grading events. The sports and autographs business continues to show double digit year-over-year growth. All of this allows our operational efficiency programs to drive improved bottom-line results.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.30 -0.92%
FB $118.08 0.55%
GOOG $695.81 0.50%
TSLA $234.18 0.80%
YHOO $35.97 -0.11%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs