Collectors Universe, parent company of PSA and PSA/DNA, says its card and autograph authentication business grew by five percent, to $3.7 million in the fiscal third quarter.
The news was part of a quarterly financial report from the publicly traded southern California-based company, which also grades and authenticates coins.
“Our margins remained strong during the quarter which helped us maintain our record year-to-date pace for revenue and operating income,” said CEO Robert Deuster. “As such, we remain cautiously optimistic for the balance of fiscal 2015 and are focusing our energies on market development efforts in our international markets and the rollout of new services for collectors worldwide.”
Deuster said a new baseball season usually means renewed interest in PSA and PSA/DNA services for sports collectors, both at public auction and private sale. He revealed the private sale of a PSA 8 Babe Ruth card for $1.1 million and also cited the February auction of Ruth’s 59th home run bat, which sold for $717,000.
“We continue to see strength in both grading activity levels and pricing,” said CEO Robert Deuster. “Quarter three results represent the 19th consecutive quarter of quarter-over-quarter revenue and operating profit growth. Interest in sports card remains high and we continue to see healthy submittal rates for grading.”
CU’s cards and autographs business grew by 5% to $3.7 million in the third quarter. For the first nine months of fiscal 2015, service revenues for the entire company grew by 5% to a nine month record of $46.3 million and comprised a five percent increase in coins and a seven percent increase in cards and autographs.