Faced with continued unprecedented demand during the ongoing pandemic, PSA is now grading and authenticating deep into the night, has hired 45 new employees since early April and expanded its weekend hours to try and reduce an ongoing backlog of trading card submissions. The company says it has also added more than a dozen temporary employees while expanding its … [Read more...]
Top Shareholder Wants to Flip PSA Parent’s Board of Directors
A Texas-based hedge fund is looking to take control of the future direction of Collectors Universe, the parent company of PSA. Alta Fox Capital recently disclosed it owns a 5.4 percent stake in CU (CLCT) and says it wants to unseat the company’s current board of directors with new members it has nominated ahead of the CU’s annual meeting. Alta Fox thinks that despite … [Read more...]
PSA Backlog Continues to Exceed 1 Million Cards
PSA is still facing a backlog of over one million trading cards in its system as the grading and authentication firm ramps back up following a temporary closure earlier this spring. The division’s parent company, Collectors Universe, saw revenue and income drop during the third fiscal quarter of 2020, but attributed the decline to the impact of a sudden shutdown due to … [Read more...]
CU, PSA Back Open But With Limited Staff
PSA and PSA/DNA is back open and accepting smaller orders, albeit on a limited basis. Closed since March 20 because of a “shelter in place” order from California Governor Gavin Newsom, the company is again grading and authenticating some items, but with only part of its staff in place to tackle the work. The announcement first came from a press release issued by … [Read more...]
PSA Submission Backlog Due Mostly to Pack Rippers
PSA says its ongoing and ever-growing backlog of orders is primarily due to the number of current era trading cards that are being submitted. During its quarterly earnings report teleconference this week, company officials again addressed the issue of why customers are waiting months for the return of orders that used to be delivered in weeks. In short, it’s because … [Read more...]
Revenue, Submissions, Backlog Still Growing at PSA
Collectors Universe, the parent company of PSA and PSA/DNA, reported record revenues for fiscal year 2019 on Wednesday. The company took in $72.5 million in fiscal 2019, which ended June 30. That figure includes a record $5.4 million, or 25% increase in trading card and autograph authentication revenues. Revenue from trading card and autograph submissions in … [Read more...]
Another Record Quarter for PSA as Submission Backlog Continues
The grading and authentication business continues to boom. PSA and PSA/DNA say they shipped over 620,000 collectibles in the third quarter of the 2019 fiscal year. “The PSA and PSA/DNA business set another all-time revenue quarterly record for the division and eclipsed last year’s Q3 revenue by roughly $1.3 million, a 24% increase year-over-year,” Joe Orlando, … [Read more...]
Help Wanted: PSA Tries to Keep Up With Demand as Revenue Soars
PSA has moved to new offices and brought in newly hired help but the grading and authentication arm of Collectors Universe is still trying to decrease the backlog of submissions for autographs and trading cards. The news goes hand-in-hand with another record-setting financial quarter for the Southern California-based company. Collectors Universe released its financial … [Read more...]
Quarterly Revenues at PSA Pass $6 Million
It’s a case of more good news means a little more bad news for PSA and PSA/DNA. The company continues to process a record-setting number of submissions and set revenue records, but the booming business continues to mean a backlog of orders. Late last week, PSA’s parent company, Collectors Universe, released its quarterly report for the first three months of the new … [Read more...]
PSA Continues Record Growth
The grading of trading cards and autographs continues to be a booming business for PSA and PSA/DNA. PSA’s parent company, Collectors Universe, has released its financial report for the fourth quarter and fiscal year 2018. Service revenues for cards and autographs both set new records with an increase of $900,000 in revenue in the fourth quarter and $3.1 million in … [Read more...]