NEWPORT BEACH, Calif.,
Oct. 6 /PRNewswire-FirstCall/ --
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 that its
Board of Directors has approved an increase in its quarterly cash
dividend to $0.325 per share per
quarter, for an expected total annual cash dividend of $1.30 per common share. The increase will
be effective beginning with the Company's quarterly cash dividend
for the quarter ending December 31,
2010. The cash dividend will be paid on November 19, 2010 to stockholders of record on
November 5, 2010.
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, sports cards,
autographs and stamps. The Company also compiles and publishes
authoritative information about United
States and world coins, collectible trading cards and sports
memorabilia and collectible stamps 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 web site,
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, which constitute "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements can 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 and increased dependence on our coin
business which generated 65% of our consolidated revenues and a
substantial portion of our operating income in the year ended
June 30, 2010, the risk that economic
conditions in the United States
will not improve for some time and may even deteriorate further,
which could result in reductions in the demand for our collectible
grading services and, consequently, in our revenues; the risk that
the economic recession and sluggishness of the economic recovery
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 risk that our strategy to offer new services in our
continuing collectibles markets will not be successful in enabling
us to improve our profitability or may even cause us to incur
significant losses; 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 the subtenant for one of
our facilities in New York will
not fulfill its obligation under the sublease agreement, thereby
increasing our net obligations for the New York facilities from our currently
expected obligations, leading 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, 2010 filed
with the Securities and Exchange Commission on September 8, 2010. 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.
Contact:
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Joseph Wallace
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Chief Financial
Officer
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Collectors Universe
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949-567-1245
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Email: jwallace@collectors.com
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SOURCE Collectors Universe
Copyright t. 6 PR Newswire