Collectors Universe, the parent company of PSA, has expanded its board of directors from five to eight members with three new additions. The company says the appointments are effective immediately. The move comes nearly three months after a private hedge fund that owns a significant piece of Collectors Universe wrote a letter to other shareholders in hopes of … [Read more...]
PSA Reports Record Quarter Despite Temporary Shutdown; Hoping Robotics Can Increase Efficiency
You're all grading a lot of cards. Collectors Universe, the parent company of PSA, reported record revenue for the final fiscal quarter and fiscal year of 2020 on Wednesday and it was the card and autograph authentication business driving most of it. Collectors Universe, which is also known for its coin grading division, reported fourth quarter revenues of … [Read more...]
PSA Hires Long-Time Collector for New Customer Experience Role
Collectors Universe, parent company of PSA, has hired its first ever "Vice President of Customer Experience" and they’ve brought in a long-time collector and customer to handle the job. Dave Steinberger’s primary roles will be to develop better ways to communicate with collectors and expand the company’s communications content. The New York native has held executive … [Read more...]
PSA: Ultra-Modern Price Hike Temporary; Hiring Continues
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...]