PSA’s revenue for card and autograph authentication increased 15% in the last quarter of fiscal 2016.
“We generated record second half service revenues in fiscal 2016, which increased by $2.4 million, or 8%, as compared to the second half of fiscal 2015,” said CU’s Chief Financial Officer Joe Wallace. “That second half increase was driven by a 12% increase in cards and autographs service revenues and a 7% increase in coins service revenues.
The company processed 1,278,900 trading cards in fiscal 2016 compared to 1,269,800 in fiscal ’15 and 1,259,100 two years ago. Autograph business increased from 434,900 items authenticated in fiscal 2015 to 448,000 in 2016.
The card and autograph authentication arm has achieved quarter-on-quarter revenue growth in 23 of the last 24 quarters, according to company reports.
For fiscal year ’16, CU generated total service revenues of $60.9 million, operating income of $12.4 million, and after-tax income from continuing operations of $7.6 million or $0.89 per diluted share, similar to what it recorded in fiscal ’15.