CU results

kadokakid

FYI

Collectors Universe 1Q Profit Drops
Friday November 10, 12:47 pm ET
Collectors Universe 1st-Quarter Profit Falls 62 Percent on Weak Grading Income


NEWPORT BEACH, Calif. (AP) -- Collectors Universe Inc., which authenticates and grades coins, sports cards, stamps and other collectibles, said Friday its fiscal first-quarter profit dropped 62 percent on weak grading service income.
Quarterly earnings fell to $394 million, or 4 cents per share, from $967 million, or 11 cents per share, a year ago. Revenue rose 12 percent to $9.9 million from $8.8 million.

Analysts polled by Thomson Financial forecast earnings of 10 cents per share on sales of $9.7 million.

Revenue from non-grading services doubled year over year, but grading income rose just 3 percent due to a drop in the average fee earned from coin grading services.

Looking ahead, Collectors Universe forecast fiscal second-quarter sales to rise year over year during a seasonally challenging period.

Shares fell 91 cents, or 6.8 percent, to $12.48 in afternoon trading on the Nasdaq.

digicat

Hmm. Could be the reason why there are $5-6 specials for everything 1948 and up this month.

calleocho

PSA is not the main unit of CU.

Coin grading is where the volume and money are.

Intense competition and a couple of big summitters bowing out have caused volume to decline.

PSA should be sold off to a private firm.