NEWPORT BEACH, Calif., Nov. 11, 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 it has been named by Forbes magazine as one of America's Best Small Public Companies.
Forbes listed Collectors Universe as number 50 in its recent elite compilation of 100 of America's Best Small Public Companies. According to Forbes, "these companies are the best-performing public companies in the U.S. with sales under $1 billion."
Since its founding in 1986, PCGS experts have authenticated and graded over 27 million coins with an estimated market value of $27 billion. Since 1991, PSA experts have examined and certified more than 20 million trading cards, autographs and other entertainment and sports memorabilia with an estimated cumulative value of more than $1 billion. Collectors Universe is expected to reach the combined total of 50 million certified collectibles in early 2014.
In recent years the PCGS division has expanded into Europe and Asia. The company has opened offices and coin submission centers in Paris, Hong Kong and Shanghai as well as developed strategic partnerships with other companies in Beijing and Guangzhou, China.
"It's pretty awesome that a collectibles company gets recognized with such an impressive honor by such a prestigious financial publication. To me this is in keeping with the widespread and mainstream acceptance of the collectibles market. Collectibles are fun, and as we all know, the money can be serious too," said David Hall, President and Co-Founder of Collectors Universe.
PCGS authenticated the world's most valuable coin ever sold at auction, a 1794-dated silver dollar that is believed by many experts to be the first silver dollar struck by the United States Mint. It sold at auction earlier this year for a record $10 million.
Robert G. Deuster, Collectors Universe Chief Executive Officer, said the company was ranked by Forbes on return on equity, sales growth and earnings growth over the past year and the past five years.
"All of us at Collectors are proud of this recognition from Forbes, and it reinforces our belief we are offering the best service in the world for certifying and grading our customers' collectibles. Every day our team members work very hard to give our customers a great experience and deliver the assurance of the grading integrity and security they seek for their coin and sports memorabilia. Our company performance follows from the passion to deliver in this unique but global business," said Deuster.
Collectors Universe has a market cap of $144 million. The company has 250 employees and recorded revenues of $49 million in fiscal 2013.
About Collectors Universe
Collectors Universe, Inc. is a leading provider of value-added services to the high-value collectibles markets. The Company authenticates and grades collectible coins, trading cards, event tickets, autographs and memorabilia ("collectibles"). The Company also compiles and publishes authoritative information about United States and world coins, collectible trading cards and sports memorabilia ("collectibles"), and operates its CCE dealer-to-dealer Internet bid-ask market for certified coins and its Expos trade show and conventions business. This information is accessible to collectors and dealers at the Company's website, http://www.collectors.com and is also published in print.
Cautionary Statements Regarding Forward Looking Information
This news release contains statements regarding our expectations, beliefs or views about our future financial performance and trends in our business and in our markets, which constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward looking statements can often be identified by the use of words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or future or conditional verbs such as "will," "would," "should," "could," or "may."
Due to a number of risks and uncertainties to which our business and our markets are subject, our future financial performance may differ, possibly significantly, from our expected financial performance as set forth in the forward-looking statements contained in this news release. Information regarding those risks and uncertainties, and their possible impact on our future financial performance, include, but are not limited to, the following: our continued dependence on our coin business which generated more than 60% of our consolidated revenues and a substantial portion of our operating income in the year ended June 30, 2013 and the first quarter of fiscal 2014, making our operating results more vulnerable to conditions that could adversely affect or cause stagnation in the prices of precious metals and collectible coins, the risks that the economic recovery may remain weak or stall, that economic conditions may deteriorate as a result of events outside of our control, including the European sovereign debt crisis, concerns regarding the United States deficit or international tensions that could cause volatility in the price of gold and silver, any of which could result in reductions in the demand for our collectibles authentication and grading services and, consequently, in our revenues and operating results; the risk that the economic recession from 2008 to 2010 and the weakness of the economic recovery in the United States will lead to longer-term changes in the spending habits of consumers and in the availability and use of credit by smaller businesses, such as collectibles dealers, to fund purchases of collectibles, which could lead to longer-term declines in collectibles commerce and, therefore, in the demand for our services; the risks that claims under our coin and trading card authentication and grading warranties will increase substantially and that the warranty reserves we maintain for such claims, will, as a result prove to be inadequate, which could cause our gross margin and operating results to decline or cause us to incur operating losses, the risk that our strategies of offering new services and expanding our collectibles authentication and grading business into new geographic areas, such as Europe and Asia will not be successful in enabling us to improve our profitability or may even cause us to incur significant losses; the risks and added complexity of conducting business overseas, the risk that it may become necessary for us to reduce the amount of, or suspend or discontinue the payment of cash dividends in the future, due to conditions or circumstances outside of our control, such as adverse economic or market conditions, as well as our future financial performance and the cash needs of our business in the future; and the risk that our continuing financial obligations with respect to two facilities in New York City, which we had leased for our subsequently discontinued jewelry businesses, will lead to reductions in cash flows and additional losses from discontinued operations in future periods.
Additional information regarding these risks and information regarding other risks and uncertainties to which our business is subject is contained in our Annual Report on Form 10-K for our fiscal year ended June 30, 2013 filed with the Securities and Exchange Commission on August 28, 2013. Due to these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release or in our Annual or Quarterly Reports, which speak only as of their respective dates. We also disclaim any obligation to update or revise any of the forward-looking statements as a result of new information, future events or otherwise, except as may be required by law or NASDAQ rules.
Joseph Wallace Chief Financial Officer Collectors Universe 949-567-1245 Email:
