PSA seems to be grading more cards and doing more authenticating than ever…at least according to the latest report from the Mother Ship.
Collectors Universe, Inc has reported its unit performance metrics for the first quarter of fiscal 2007 ended September 30, 2006. Among the stats released:
Sportscards authentited and graded by PSA increased by 14% to 321,500 units, or 37% of the aggregate units authenticated and graded by the entire company, in the first quarter of fiscal 2007 from 283,000, or 38% of the aggregate units authenticated and graded, in the first quarter of fiscal 2006.
Autograph units authenticated by PSA/DNA decreased by 38% to 34,200 units, or 4% of the aggregate units authenticated, in the first quarter of fiscal 2007, from 55,000, or 7% of the aggregate units authenticated, in the first quarter of fiscal 2006.
And one Canadian stock-watcher has CU on hisbuy list (no, we’re not being paid to write that.)
Michael Haynes, Chief Executive Officer of Collectors Universe, commented, "Overall, we continue to be pleased with our growth in our markets. Our autograph division had a very difficult comparative quarter to the first quarter of 2006 since we processed an unusually large single order of 10,000 units in the first quarter of 2006."
Joe Wallace, Chief Financial Officer of Collectors Universe, stated, "While we believe that units authenticated and graded is a useful measure of our performance, it is important to recognize that increases or decreases in the number of units authenticated and graded may not correlate proportionately to increases or decreases in revenues. It is also important to note that revenues are affected not only by the number, but also by the mix of units processed, the mix of services (in terms of ‘turn-around times’) requested by customers and by average service fees per unit, among coins, sports cards and stamps."
"Generally, the prices for, and the revenues from, the authentication and grading of each collectible coin is higher than those for the authentication and grading of each sports card and the prices for, and the revenues from, the authentication and grading of each diamond and colored gemstone is on average higher than each collectible coin. In addition, prices for authentication and grading of collectible coins and sports cards vary depending on the ‘turn-around’ time requested by our customers, with higher prices charged for faster turn-around times."
PSA 9s and 10s on eBay