Collectors Universe, Inc. (Nasdaq: CLCT), recently announced their third fiscal quarter financial results for 2008. In year to date comparisons, their revenue totals increased by 6% over the same period of the prior year — $31.7 million for the nine months ended March 31, 2008, compared to $29.8 million.
At March 31, 2008, the Collectors Universe had working capital of $32.7 million and no long-term debt.
Collectors Universe reported net revenues of $10.9 million for the quarter and a loss from continuing operations of $966,000, or $0.11 per diluted share compared to net revenues of $11.1 million and a loss from continuing operations of $68,000 or $0.01 per diluted share for third fiscal quarter in 2007.
While there are many numbers to digest within the financial results, an interesting aspect was the Company reporting of lower coin trade show revenues of approximately $950,000.
Part of the reasoning offered was the logical results of having one less trade show in the quarter. Another was the "more challenging conditions for trade show gold coin submissions" due to the rapid increase in gold bullion prices.
Michael Haynes, Chief Executive Officer, stated, “The coin revenues were down in our trade show business and not totally offset by increased revenues in our vintage and modern sectors.
The trade shows business was adversely impacted by the considerable increase in gold prices, as a significant portion of the trade show business is associated with gold coins that trade with modest premiums over gold content."
Collectors Universe indicated higher gross profit margins are achieved at coin trade shows since customers demand faster coin grading turnaround times.
The entire news release is available through the investor section of the Collectors Universe website.
About Collectors Universe
Collectors Universe, Inc. is a leading provider of value added services to the high-value collectibles and diamond and colored gemstones markets. The Company authenticates and grades collectible coins, sports cards, autographs, stamps, currency, diamonds and colored gemstones.
The Company also compiles and publishes authoritative information about United States and world coins, collectible sports cards and sports memorabilia, collectible stamps, diamonds and colored gemstones. This information is accessible to collectors and dealers at the Company’s web site, http://www.collectors.com, and is also published in print.