A Message from the President
SportsModerator2
Posts: 1,735 mod
Hello everyone,
I want to address something that there seems to be some confusion about in the hobby.
As many of you know, PSA and PSA/DNA are part of a publicly traded company, a parent company by the name of Collectors Universe. This company has several divisions, such as PSA, under the corporate umbrella.
Each quarter and every fiscal year, financial statements are released summing up the performance of Collectors Universe.
Unfortunately, most people do not look past the summary of the corporate financials. In turn, these people may associate the performance of the parent company with the performance of the individual divisions.
I want to make something very clear. PSA and PSA/DNA have been doing and continue to do very well, are profitable and are healthy.
About three or so years ago, our parent company decided to make a substantial investment in the diamond and gemstone business in hopes of growing the overall company in a significant way. The parent company (not PSA or PSA/DNA individually) has posted some early-stage losses reflecting the investment in those businesses.
This is NOT a reflection of PSA’s or PSA/DNA’s performance and/or health. Just to illustrate the point, in the last two quarters, PSA has graded about 350,000 cards per quarter (well over 100,000 cards per month). During the same period, PSA/DNA has averaged approximately 50,000 autographs processed per quarter.
Combined, both divisions have averaged about 400,000 submissions per quarter. Each quarter submission total was HIGHER than the total processed in the same quarter during the previous year.
These are REAL numbers.
Yes, the country is faced with economic challenges right now and our parent company (Collectors Universe) has chosen to make substantial investments into a couple of relatively new ventures but, as you can clearly see, PSA and PSA/DNA are as strong as they have ever been thanks to the unwavering support of our customers. Our market share is dominant as is our Set Registry program, which eclipsed 40,000 total sets just a few days ago.
On behalf of everyone at PSA and PSA/DNA, thank you.
Sincerely,
Joe Orlando
President
I want to address something that there seems to be some confusion about in the hobby.
As many of you know, PSA and PSA/DNA are part of a publicly traded company, a parent company by the name of Collectors Universe. This company has several divisions, such as PSA, under the corporate umbrella.
Each quarter and every fiscal year, financial statements are released summing up the performance of Collectors Universe.
Unfortunately, most people do not look past the summary of the corporate financials. In turn, these people may associate the performance of the parent company with the performance of the individual divisions.
I want to make something very clear. PSA and PSA/DNA have been doing and continue to do very well, are profitable and are healthy.
About three or so years ago, our parent company decided to make a substantial investment in the diamond and gemstone business in hopes of growing the overall company in a significant way. The parent company (not PSA or PSA/DNA individually) has posted some early-stage losses reflecting the investment in those businesses.
This is NOT a reflection of PSA’s or PSA/DNA’s performance and/or health. Just to illustrate the point, in the last two quarters, PSA has graded about 350,000 cards per quarter (well over 100,000 cards per month). During the same period, PSA/DNA has averaged approximately 50,000 autographs processed per quarter.
Combined, both divisions have averaged about 400,000 submissions per quarter. Each quarter submission total was HIGHER than the total processed in the same quarter during the previous year.
These are REAL numbers.
Yes, the country is faced with economic challenges right now and our parent company (Collectors Universe) has chosen to make substantial investments into a couple of relatively new ventures but, as you can clearly see, PSA and PSA/DNA are as strong as they have ever been thanks to the unwavering support of our customers. Our market share is dominant as is our Set Registry program, which eclipsed 40,000 total sets just a few days ago.
On behalf of everyone at PSA and PSA/DNA, thank you.
Sincerely,
Joe Orlando
President
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