Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Mar. 31, 2017 | Apr. 30, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | COLLECTORS UNIVERSE INC | |
Entity Central Index Key | 1,089,143 | |
Trading Symbol | clct | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 8,920,998 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Mar. 31, 2017 | Jun. 30, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 10,836,000 | $ 11,967,000 |
Accounts receivable, net of allowance of $64 and $35 at March 31, 2017 and June 30, 2016, respectively | 3,887,000 | 3,883,000 |
Inventories, net | 2,853,000 | 1,835,000 |
Prepaid expenses and other current assets | 1,597,000 | 1,273,000 |
Total current assets | 19,173,000 | 18,958,000 |
Property and equipment, net | 2,953,000 | 2,839,000 |
Goodwill | 2,083,000 | 2,083,000 |
Intangible assets, net | 2,009,000 | 1,762,000 |
Deferred income tax assets | 2,229,000 | 2,229,000 |
Other assets | 412,000 | 240,000 |
Non-current assets of discontinued operations | 79,000 | 79,000 |
Total assets | 28,938,000 | 28,190,000 |
Current liabilities: | ||
Accounts payable | 3,047,000 | 2,728,000 |
Accrued liabilities | 2,326,000 | 2,491,000 |
Accrued compensation and benefits | 3,817,000 | 3,414,000 |
Income taxes payable | 2,034,000 | 782,000 |
Deferred revenue | 3,008,000 | 2,563,000 |
Current liabilities of discontinued operations | 522,000 | 619,000 |
Total current liabilities | 14,754,000 | 12,597,000 |
Deferred rent | 308,000 | 381,000 |
Non-current liabilities of discontinued operations | 217,000 | |
Commitments and contingencies (Note 10) | ||
Stockholders’ equity: | ||
Preferred stock, $.001 par value; 3,000 shares authorized; no shares issued or outstanding | ||
Common stock, $.001 par value; 20,000 shares authorized; 8,921 and 8,898 issued and outstanding at March 31, 2017 and June 30, 2016, respectively. | 9,000 | 9,000 |
Additional paid-in capital | 80,972,000 | 80,642,000 |
Accumulated deficit | (67,105,000) | (65,656,000) |
Total stockholders’ equity | 13,876,000 | 14,995,000 |
Total liabilities and stockholders’ equity | $ 28,938,000 | $ 28,190,000 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Mar. 31, 2017 | Jun. 30, 2016 |
Accounts receivable, allowance | $ 64 | $ 35 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 3,000 | 3,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 20,000 | 20,000 |
Common stock, shares issued (in shares) | 8,921 | 8,898 |
Common stock, shares outstanding (in shares) | 8,921 | 8,898 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Net revenues | $ 18,596 | $ 17,329 | $ 52,206 | $ 44,583 |
Cost of revenues | 7,365 | 6,288 | 19,979 | 16,444 |
Gross profit | 11,231 | 11,041 | 32,227 | 28,139 |
Operating expenses: | ||||
Selling and marketing expenses | 2,210 | 2,132 | 6,959 | 6,341 |
General and administrative expenses | 4,312 | 4,504 | 13,274 | 12,508 |
Total operating expenses | 6,522 | 6,636 | 20,233 | 18,849 |
Operating income | 4,709 | 4,405 | 11,994 | 9,290 |
Interest income and other expense, net | 13 | 3 | (59) | (39) |
Income before provision for income taxes | 4,722 | 4,408 | 11,935 | 9,251 |
Provision for income taxes | 1,765 | 1,695 | 4,467 | 3,600 |
Income from continuing operations | 2,957 | 2,713 | 7,468 | 5,651 |
Income (loss) from discontinued operations, net of income taxes | 6 | 65 | (3) | 47 |
Net income | $ 2,963 | $ 2,778 | $ 7,465 | $ 5,698 |
Net income per basic share | ||||
Income from continuing operations (in dollars per share) | $ 0.35 | $ 0.32 | $ 0.88 | $ 0.67 |
Income from discontinued operations (in dollars per share) | 0.01 | |||
Net income per basic share (in dollars per share) | 0.35 | 0.33 | 0.88 | 0.67 |
Net income per diluted share | ||||
Income from continuing operations (in dollars per share) | 0.35 | 0.32 | 0.87 | 0.66 |
Income from discontinued operations (in dollars per share) | 0.01 | |||
Net income per diluted share (in dollars per share) | $ 0.35 | $ 0.32 | $ 0.87 | $ 0.67 |
Weighted average shares outstanding | ||||
Basic (in shares) | 8,482 | 8,447 | 8,478 | 8,441 |
Diluted (in shares) | 8,569 | 8,549 | 8,569 | 8,544 |
Dividends declared per common share (in dollars per share) | $ 0.35 | $ 0.35 | $ 1.05 | $ 1.05 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 7,465,000 | $ 5,698,000 |
Discontinued operations | 3,000 | (47,000) |
Income from continuing operations | 7,468,000 | 5,651,000 |
Adjustments to reconcile income from continuing operations to net cash provided by operating activities: | ||
Depreciation and amortization expense | 1,243,000 | 1,094,000 |
Stock-based compensation expense | 330,000 | 449,000 |
Provision for bad debts | 32,000 | 5,000 |
Provision for inventory write-down | 32,000 | 46,000 |
Provision for warranty | 506,000 | (293,000) |
Gain on sale of property and equipment | 5,000 | (2,000) |
Change in operating assets and liabilities: | ||
Accounts receivable | (36,000) | (1,213,000) |
Inventories | (1,050,000) | (262,000) |
Prepaid expenses and other | (323,000) | (313,000) |
Other assets | (172,000) | (31,000) |
Accounts payable and accrued liabilities | (286,000) | 47,000 |
Accrued compensation and benefits | 402,000 | (960,000) |
Income taxes payable | 1,252,000 | 2,020,000 |
Deferred revenue | 445,000 | 109,000 |
Deferred rent | (73,000) | (15,000) |
Net cash provided by operating activities of continuing operations | 9,775,000 | 6,332,000 |
Net cash used in operating activities of discontinued businesses | (379,000) | (331,000) |
Net cash provided by operating activities | 9,396,000 | 6,001,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from sale of business | 53,000 | 49,000 |
Capital expenditures | (919,000) | (1,113,000) |
Capitalized software | (723,000) | (615,000) |
Patents and other intangibles | (5,000) | (4,000) |
Net cash used in investing activities | (1,594,000) | (1,683,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Dividends paid to common stockholders | (8,933,000) | (8,991,000) |
Net cash used in financing activities | (8,933,000) | (8,991,000) |
Net decrease in cash and cash equivalents | (1,131,000) | (4,673,000) |
Cash and cash equivalents at beginning of period | 11,967,000 | 17,254,000 |
Cash and cash equivalents at end of period | 10,836,000 | 12,581,000 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest paid during the period | ||
Income taxes paid during the period | $ 2,934,000 | $ 1,609,000 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. SUMMARY OF Significant Accounting Policies Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements include the accounts of Collectors Universe, Inc. and its operating subsidiaries (the “Company”, “we”, “us”, or “our”). At March 31, 2017, 100% Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These interim condensed consolidated financial statements are unaudited and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments and accruals) necessary to present fairly the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, and Condensed Consolidated Statements of Cash Flows for the periods presented in accordance with generally accepted accounting principles as in effect in the United States of America (“GAAP”). Operating results for the three nine March 31, 2017 may June 30, 2017 10 June 30, 2016, 2016 10 June 30, 2016 Reclassification s Certain prior period amounts have been reclassified to conform to the current period presentation. Revenue Recognition Policies We record revenue at the time of shipment of the authenticated and graded collectible to the customer, net of any taxes collected. Due to the insignificant delay between the completion of our authentication and grading services and the shipment of the collectible or high-value asset back to the customer, the time of shipment corresponds to the completion of our authentication and grading services. We recognize revenue from the sale of special coin inserts at the time the customer takes legal title to the insert. Many of our authentication and grading customers prepay our authentication and grading fees when they submit their collectibles to us for authentication and grading. We record those prepayments as deferred revenue until the collectibles have been authenticated and graded and shipped back to them. At that time, we record the revenues from the authentication and grading services we have performed for the customer and deduct this amount from deferred revenue. For certain dealers to whom we extend open account privileges, we record revenue at the time of shipment of the authenticated and graded collectible to the dealer. With respect to our Expos trade show business, we recognize revenue from each show in the period in which the show takes place. A portion of our net revenues are comprised of subscription fees paid by customers for one one We recognize product sales when items are shipped to customers. Product revenues consist primarily of sales of collectible coins that we purchase pursuant to our coin authentication and grading warranty program. However, those sales are not considered an integral part of the Company’s ongoing revenue generating activities. Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results from continuing and discontinued operations could differ from results expected on the basis of those estimates, and such differences could be material to our future results of operations and financial condition. Examples of such estimates that could be material include determinations made with respect to the capitalization and recovery of software development costs, the valuation of stock-based compensation awards and the timing of the recognition of related stock-based compensation expense, the valuation of coin inventory, the amount and assessment of goodwill for impairment, the sufficiency of warranty reserves, the provision or benefit for income taxes and related valuation allowances, and adjustments to the fair value of remaining lease obligations for our discontinued jewelry businesses. Goodwill and Other Long-Lived Assets We evaluate the carrying value of goodwill and indefinite-lived intangible assets at least annually, or more frequently if facts and circumstances indicate that impairment may may no March 31, 2017. Foreign Currency Stock-Based Compensation We recognize stock-based compensation attributable to service-based equity grants over the service period based on the grant date fair values of the awards. For performance-based equity grants with financial performance goals, we begin recognizing compensation expense based on their respective grant date fair values when it becomes probable that we will achieve the financial performance goals. Restricted Stock Awards As previously disclosed, in fiscal 2013, 411,000 four one six June 30, 2018 2015, first 25% The Company did not achieve any additional financial performance goals in fiscal 2016 2016. 2018. At this time, it is not considered probable that the Company will achieve any of the remaining financial goals under the LTIP in fiscal 2017 2018. Stock-based compensation in the three nine March 31, 2017 $119,000 $330,000, $159,000 $449,000, three nine March 31, 2016. Concentrations Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Financial Instruments and Cash Balances. March 31, 2017 $10,836,000, $6,566,000 $4,270,000 $1,818,000 March 31, 2017 $1,414,000 Substantially all of our cash is deposited at one $8,357,000 March 31, 2017. New Credit Line January 10, 2017 three $10 may may one may $10 30 no may, may Credit Line borrowings will bear interest, at the Company’s option, at LIBOR plus 2.25% 0.25% 0.0625% $4 March 31, 2017. Accounts Receivable. One 10% March 31, 2017 no 10% June 30, 2016. may $64,000 $35,000 March 31, 2017 June 30, 2016, Coin Revenues 69% nine March 31, 2017, 66% nine March 31, 2016. Customers. Five 20% 14% nine March 31, 2017 2016, Inventories Our inventories consist primarily of (i) coins which we have purchased pursuant to our coin authentication and grading warranty program and (ii) consumable supplies and special inserts that we use in our continuing authentication and grading businesses. Coin collectibles inventories are recorded at the lower of cost or estimated market value using the specific identification method. Consumable supplies are recorded at the lower of cost (using the first first Capitalized Software We capitalize certain costs incurred in the development and upgrading of our software, either from internal or external sources, as part of intangible assets and we amortize these costs on a straight-line basis over the estimated useful life of the software of three three nine March 31, 2017 $352,000 $723,000, $245,000 $615,000 three nine March 31, 2016, three nine March 31, 2017, $122,000 $342,000, $64,000 $168,000, three nine March 31, 2016. Warranty Costs We offer a limited warranty covering the coins and trading cards that we authenticate and grade. Under the warranty, if any collectible coin or trading card that was previously authenticated and graded by us is later submitted to us for re-grading and either (i) receives a lower grade upon that re-submittal or (ii) is determined not to have been authentic, we will offer to purchase the collectible or, in the alternative, at the customer’s option, pay the difference in value of the item at its original grade, as compared with its lower grade. However, this warranty is voided if the collectible, upon re-submittal to us, is not in the same tamper-resistant holder in which it was placed at the time we last graded it. We accrue for estimated warranty costs based on historical trends and related experience. We monitor the adequacy of our warranty reserves on an ongoing basis for significant claims resulting from resubmissions receiving lower grades, or deemed not to be authentic. In the third 2016, $869,000 March 31, 2016, three nine March 31, 2016 $656,000 4 Dividends In accordance with the Company’s current quarterly dividend policy, we paid quarterly cash dividends of $0.35 third 2017. may Recent Accounting Pronouncements In May 2014, 2014 09, July 2015, one first 2019 first 2018. March 2016, 2016 08, 606): May 2016, 2016 2016 12, 606): 606. In February 2016, 2016 02 12 December 15, 2018, In August 2016, 2016 15 eight zero December 15, 2017 In January 2017, 2017 04, 2 Instead, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for fiscal years beginning after December 9, 2019. |
Note 2 - Inventories
Note 2 - Inventories | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 2. INVENTORIES Inventories consist of the following (in thousands): March 31 , June 30, 2017 201 6 Coins $ 459 $ 437 Other collectibles 446 292 Grading raw materials consumable inventory 2,717 1,845 3,622 2,574 Less inventory reserve (769 ) (739 ) Inventories, net $ 2,853 $ 1,835 The inventory reserve represents a valuation allowance on certain items of our coins, other collectibles and consumable inventories based upon our review of the current market value of such coins and collectibles and the usage of consumables. The estimated value of coins can be subjective and can vary depending on market conditions for precious metals, the number of qualified buyers for a particular coin and the uniqueness and special features of a particular coin. |
Note 3 - Property and Equipment
Note 3 - Property and Equipment | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 3. PROPERTY AND EQUIPMENT Property and equipment consist of the following (in thousands): March 31, June 30, 2017 2016 Coins grading reference sets $ 263 $ 263 Computer hardware and equipment 2,875 2,777 Computer software 1,224 1,202 Equipment 5,798 5,134 Furniture and office equipment 1,145 1,116 Leasehold improvements 1,244 1,138 Trading card reference library 52 52 12,601 11,682 Less accumulated depreciation and amortization (9,648 ) (8,843 ) Property and equipment, net $ 2,953 $ 2,839 |
Note 4 - Accrued Liabilities
Note 4 - Accrued Liabilities | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 4. ACCRUED LIABILITIES Accrued liabilities consist of the following (in thousands): March 31 , June 30, 2017 201 6 Warranty reserves $ 1,130 $ 892 Professional fees 348 484 Other 848 1,115 $ 2,326 $ 2,491 The following table presents the changes in the Company’s warranty reserve during the nine March 31, 2017 2016 Nine Months Ended March 31 , 2017 2016 Warranty reserve beginning of period $ 892 $ 1,492 Provision charged to cost of revenues 506 363 Change in Estimate - (656 ) Payments (268 ) (330 ) Warranty reserve, end of period $ 1,130 $ 869 |
Note 5 - Discontinued Operation
Note 5 - Discontinued Operations | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 5. DISCONTINUED OPERATIONS During fiscal 2009, March 31, 2017 June 30, 2016. The operating results of the discontinued businesses that are included in the accompanying Condensed Consolidated Statements of Operations were not material. The remaining lease obligation in connection with the fiscal 2009 $359,000 March 31, 2017, March 31, 2017. |
Note 6 - Income Taxes
Note 6 - Income Taxes | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 6. INCOME TAXES In the nine March 31, 2017 2016, 37% 39% nine March 31, 2017, 2017 2%. |
Note 7 - Net Income Per Share
Note 7 - Net Income Per Share | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 7. NET INCOME PER SHARE The following table presents the changes in the Company’s weighted average shares outstanding for the three nine March 31, 2017 2016 Three Months Ended March 31, Nine Months Ended March 31, 2017 20 16 2017 2016 Weighted average shares outstanding: Basic 8,482 8,447 8,478 8,441 Dilutive effect of restricted shares 87 102 91 103 Weighted average shares outstanding: Diluted 8,569 8,549 8,569 8,544 10,000 5,000 three nine March 31, 2017, 24,000 three March 31, 2016. In addition, approximately 254,000 260,000 three nine March 31, 2017, 279,000 264,000 three nine March 31, 2016, |
Note 8 - Business Segments
Note 8 - Business Segments | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 8. BUSINESS SEGMENTS Operating segments are defined as the components or “segments” of an enterprise for which separate financial information is available that is evaluated regularly by the Company’s chief operating decision maker, or decision-making group, in deciding how to allocate resources to and in assessing performance of those components or “segments”. The Company’s chief operating decision-maker is its Chief Executive Officer. The Company’s operating segments are organized based on the respective services that they offer to customers. Similar operating segments have been aggregated to reportable operating segments based on having similar services, types of customers, and other criteria. For our continuing operations, we operate principally in three We allocate certain operating expenses to each service segment based upon each segment’s estimated expense usage. The following tables set forth on a segment basis, including a reconciliation with the condensed consolidated financial statements, (i) external revenues, (ii) amortization and depreciation, (iii) stock-based compensation expense, and (iv) operating income for the three nine March 31, 2017 2016, March 31, 2017 June 30, 2016, Three Months Ended Nine Months Ended March 31, March 31, 20 17 20 16 20 17 20 16 Net revenues from external customers: Coins (1) $ 12,825 $ 11,992 $ 35,776 $ 29,590 Trading cards and autographs 4,427 4,005 12,965 11,576 Other 1,344 1,332 3,465 3,417 Consolidated total revenue $ 18,596 $ 17,329 $ 52,206 $ 44,583 Amortization and depreciation: Coins $ 163 $ 118 $ 461 $ 381 Trading cards and autographs 51 57 159 169 Other 127 125 398 344 Total 341 300 1,018 894 Unallocated amortization and depreciation 73 94 225 200 Consolidated amortization and depreciation $ 414 $ 394 $ 1,243 $ 1,094 Stock-based compensation: Coins $ 28 $ 22 $ 56 $ 67 Trading cards and autographs 3 3 8 8 Other 2 2 6 5 Total 33 27 70 80 Unallocated stock-based compensation 86 132 260 369 Consolidated stock-based compensation $ 119 $ 159 $ 330 $ 449 Operating income: Coins $ 4,481 $ 4,516 $ 12,033 $ 10,117 Trading cards and autographs 1,006 906 3,008 2,422 Other 388 62 808 57 Total 5,875 5,484 15,849 12,596 Unallocated operating expenses (1,166 ) (1,079 ) (3,855 ) (3,306 ) Consolidated operating income $ 4,709 $ 4,405 $ 11,994 $ 9,290 (1) Includes service revenues of $1.3 $7.0 three nine March 31, 2017, $1.4 $3.4 three nine March 31, 2016, March 31, June 30, 2017 201 6 Identifiable Assets: Coins (2) $ 9,560 $ 7,824 Trading cards and autographs 1,291 1,451 Other 3,326 3,360 Total 14,177 12,635 Unallocated assets (2) 14,761 15,555 Consolidated assets $ 28,938 $ 28,190 Goodwill: Coins $ 515 $ 515 Other 1,568 1,568 Consolidated goodwill $ 2,083 $ 2,083 (2 ) $4.0 $2.9 March 31, 2017 June 30, 2016, |
Note 9 - Related-party Transact
Note 9 - Related-party Transactions | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 9. RELATED-PARTY TRANSACTIONS During the three nine March 31, 2017, $665,000 $1,611,000, $552,000 $1,557,000 three nine March 31, 2016, March 31, 2017, $150,000, $92,000 June 30, 2016. An associate of Richard Kenneth Duncan Sr., who as of July 2015 5% $354,000 $760,000 three nine March 31, 2017, $378,000 $944,000, three nine 2016. March 31, 2017, no $101,000 June 30, 2016. In each case, these authentication and grading fees were comparable in amount to the fees which we charge, in the ordinary course of our business, for similar authentication and grading services we render to unaffiliated customers. |
Note 10 - Contingencies
Note 10 - Contingencies | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | 10. CONTINGENCIES The Company is named from time to time, as a defendant in lawsuits and disputes that arise in the ordinary course of business. We believe that none of the lawsuits or disputes currently pending against the Company is likely to have a material adverse effect on the Company’s financial position or results of operations. |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 11. SUBSEQUENT EVENTS On April 24, 2017, fourth $0.35 May 26, 2017 May 17, 2017. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying unaudited interim condensed consolidated financial statements include the accounts of Collectors Universe, Inc. and its operating subsidiaries (the “Company”, “we”, “us”, or “our”). At March 31, 2017, 100% |
Basis of Accounting, Policy [Policy Text Block] | Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting. These interim condensed consolidated financial statements are unaudited and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments and accruals) necessary to present fairly the Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations, and Condensed Consolidated Statements of Cash Flows for the periods presented in accordance with generally accepted accounting principles as in effect in the United States of America (“GAAP”). Operating results for the three nine March 31, 2017 may June 30, 2017 10 June 30, 2016, 2016 10 June 30, 2016 |
Reclassification, Policy [Policy Text Block] | Reclassification s Certain prior period amounts have been reclassified to conform to the current period presentation. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Policies We record revenue at the time of shipment of the authenticated and graded collectible to the customer, net of any taxes collected. Due to the insignificant delay between the completion of our authentication and grading services and the shipment of the collectible or high-value asset back to the customer, the time of shipment corresponds to the completion of our authentication and grading services. We recognize revenue from the sale of special coin inserts at the time the customer takes legal title to the insert. Many of our authentication and grading customers prepay our authentication and grading fees when they submit their collectibles to us for authentication and grading. We record those prepayments as deferred revenue until the collectibles have been authenticated and graded and shipped back to them. At that time, we record the revenues from the authentication and grading services we have performed for the customer and deduct this amount from deferred revenue. For certain dealers to whom we extend open account privileges, we record revenue at the time of shipment of the authenticated and graded collectible to the dealer. With respect to our Expos trade show business, we recognize revenue from each show in the period in which the show takes place. A portion of our net revenues are comprised of subscription fees paid by customers for one one We recognize product sales when items are shipped to customers. Product revenues consist primarily of sales of collectible coins that we purchase pursuant to our coin authentication and grading warranty program. However, those sales are not considered an integral part of the Company’s ongoing revenue generating activities. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results from continuing and discontinued operations could differ from results expected on the basis of those estimates, and such differences could be material to our future results of operations and financial condition. Examples of such estimates that could be material include determinations made with respect to the capitalization and recovery of software development costs, the valuation of stock-based compensation awards and the timing of the recognition of related stock-based compensation expense, the valuation of coin inventory, the amount and assessment of goodwill for impairment, the sufficiency of warranty reserves, the provision or benefit for income taxes and related valuation allowances, and adjustments to the fair value of remaining lease obligations for our discontinued jewelry businesses. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Long-Lived Assets We evaluate the carrying value of goodwill and indefinite-lived intangible assets at least annually, or more frequently if facts and circumstances indicate that impairment may may no March 31, 2017. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation We recognize stock-based compensation attributable to service-based equity grants over the service period based on the grant date fair values of the awards. For performance-based equity grants with financial performance goals, we begin recognizing compensation expense based on their respective grant date fair values when it becomes probable that we will achieve the financial performance goals. Restricted Stock Awards As previously disclosed, in fiscal 2013, 411,000 four one six June 30, 2018 2015, first 25% The Company did not achieve any additional financial performance goals in fiscal 2016 2016. 2018. At this time, it is not considered probable that the Company will achieve any of the remaining financial goals under the LTIP in fiscal 2017 2018. Stock-based compensation in the three nine March 31, 2017 $119,000 $330,000, $159,000 $449,000, three nine March 31, 2016. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Financial Instruments and Cash Balances. March 31, 2017 $10,836,000, $6,566,000 $4,270,000 $1,818,000 March 31, 2017 $1,414,000 Substantially all of our cash is deposited at one $8,357,000 March 31, 2017. New Credit Line January 10, 2017 three $10 may may one may $10 30 no may, may Credit Line borrowings will bear interest, at the Company’s option, at LIBOR plus 2.25% 0.25% 0.0625% $4 March 31, 2017. Accounts Receivable. One 10% March 31, 2017 no 10% June 30, 2016. may $64,000 $35,000 March 31, 2017 June 30, 2016, Coin Revenues 69% nine March 31, 2017, 66% nine March 31, 2016. Customers. Five 20% 14% nine March 31, 2017 2016, |
Inventory, Policy [Policy Text Block] | Inventories Our inventories consist primarily of (i) coins which we have purchased pursuant to our coin authentication and grading warranty program and (ii) consumable supplies and special inserts that we use in our continuing authentication and grading businesses. Coin collectibles inventories are recorded at the lower of cost or estimated market value using the specific identification method. Consumable supplies are recorded at the lower of cost (using the first first |
Research, Development, and Computer Software, Policy [Policy Text Block] | Capitalized Software We capitalize certain costs incurred in the development and upgrading of our software, either from internal or external sources, as part of intangible assets and we amortize these costs on a straight-line basis over the estimated useful life of the software of three three nine March 31, 2017 $352,000 $723,000, $245,000 $615,000 three nine March 31, 2016, three nine March 31, 2017, $122,000 $342,000, $64,000 $168,000, three nine March 31, 2016. |
Standard Product Warranty, Policy [Policy Text Block] | Warranty Costs We offer a limited warranty covering the coins and trading cards that we authenticate and grade. Under the warranty, if any collectible coin or trading card that was previously authenticated and graded by us is later submitted to us for re-grading and either (i) receives a lower grade upon that re-submittal or (ii) is determined not to have been authentic, we will offer to purchase the collectible or, in the alternative, at the customer’s option, pay the difference in value of the item at its original grade, as compared with its lower grade. However, this warranty is voided if the collectible, upon re-submittal to us, is not in the same tamper-resistant holder in which it was placed at the time we last graded it. We accrue for estimated warranty costs based on historical trends and related experience. We monitor the adequacy of our warranty reserves on an ongoing basis for significant claims resulting from resubmissions receiving lower grades, or deemed not to be authentic. In the third 2016, $869,000 March 31, 2016, three nine March 31, 2016 $656,000 4 |
Stockholders' Equity, Policy [Policy Text Block] | Dividends In accordance with the Company’s current quarterly dividend policy, we paid quarterly cash dividends of $0.35 third 2017. may |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In May 2014, 2014 09, July 2015, one first 2019 first 2018. March 2016, 2016 08, 606): May 2016, 2016 2016 12, 606): 606. In February 2016, 2016 02 12 December 15, 2018, In August 2016, 2016 15 eight zero December 15, 2017 In January 2017, 2017 04, 2 Instead, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for fiscal years beginning after December 9, 2019. |
Note 2 - Inventories (Tables)
Note 2 - Inventories (Tables) | 9 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31 , June 30, 2017 201 6 Coins $ 459 $ 437 Other collectibles 446 292 Grading raw materials consumable inventory 2,717 1,845 3,622 2,574 Less inventory reserve (769 ) (739 ) Inventories, net $ 2,853 $ 1,835 |
Note 3 - Property and Equipme19
Note 3 - Property and Equipment (Tables) | 9 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, June 30, 2017 2016 Coins grading reference sets $ 263 $ 263 Computer hardware and equipment 2,875 2,777 Computer software 1,224 1,202 Equipment 5,798 5,134 Furniture and office equipment 1,145 1,116 Leasehold improvements 1,244 1,138 Trading card reference library 52 52 12,601 11,682 Less accumulated depreciation and amortization (9,648 ) (8,843 ) Property and equipment, net $ 2,953 $ 2,839 |
Note 4 - Accrued Liabilities (T
Note 4 - Accrued Liabilities (Tables) | 9 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | March 31 , June 30, 2017 201 6 Warranty reserves $ 1,130 $ 892 Professional fees 348 484 Other 848 1,115 $ 2,326 $ 2,491 |
Schedule of Product Warranty Liability [Table Text Block] | Nine Months Ended March 31 , 2017 2016 Warranty reserve beginning of period $ 892 $ 1,492 Provision charged to cost of revenues 506 363 Change in Estimate - (656 ) Payments (268 ) (330 ) Warranty reserve, end of period $ 1,130 $ 869 |
Note 7 - Net Income Per Share (
Note 7 - Net Income Per Share (Tables) | 9 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, Nine Months Ended March 31, 2017 20 16 2017 2016 Weighted average shares outstanding: Basic 8,482 8,447 8,478 8,441 Dilutive effect of restricted shares 87 102 91 103 Weighted average shares outstanding: Diluted 8,569 8,549 8,569 8,544 |
Note 8 - Business Segments (Tab
Note 8 - Business Segments (Tables) | 9 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Nine Months Ended March 31, March 31, 20 17 20 16 20 17 20 16 Net revenues from external customers: Coins (1) $ 12,825 $ 11,992 $ 35,776 $ 29,590 Trading cards and autographs 4,427 4,005 12,965 11,576 Other 1,344 1,332 3,465 3,417 Consolidated total revenue $ 18,596 $ 17,329 $ 52,206 $ 44,583 Amortization and depreciation: Coins $ 163 $ 118 $ 461 $ 381 Trading cards and autographs 51 57 159 169 Other 127 125 398 344 Total 341 300 1,018 894 Unallocated amortization and depreciation 73 94 225 200 Consolidated amortization and depreciation $ 414 $ 394 $ 1,243 $ 1,094 Stock-based compensation: Coins $ 28 $ 22 $ 56 $ 67 Trading cards and autographs 3 3 8 8 Other 2 2 6 5 Total 33 27 70 80 Unallocated stock-based compensation 86 132 260 369 Consolidated stock-based compensation $ 119 $ 159 $ 330 $ 449 Operating income: Coins $ 4,481 $ 4,516 $ 12,033 $ 10,117 Trading cards and autographs 1,006 906 3,008 2,422 Other 388 62 808 57 Total 5,875 5,484 15,849 12,596 Unallocated operating expenses (1,166 ) (1,079 ) (3,855 ) (3,306 ) Consolidated operating income $ 4,709 $ 4,405 $ 11,994 $ 9,290 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | March 31, June 30, 2017 201 6 Identifiable Assets: Coins (2) $ 9,560 $ 7,824 Trading cards and autographs 1,291 1,451 Other 3,326 3,360 Total 14,177 12,635 Unallocated assets (2) 14,761 15,555 Consolidated assets $ 28,938 $ 28,190 Goodwill: Coins $ 515 $ 515 Other 1,568 1,568 Consolidated goodwill $ 2,083 $ 2,083 |
Note 1 - Summary of Significa23
Note 1 - Summary of Significant Accounting Policies (Details Textual) | Jan. 10, 2017USD ($) | Mar. 31, 2017USD ($)$ / sharesshares | Mar. 31, 2016USD ($) | Mar. 31, 2017USD ($)shares | Mar. 31, 2016USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) |
Allocated Share-based Compensation Expense | $ 119,000 | $ 159,000 | $ 330,000 | $ 449,000 | |||
Cash and Cash Equivalents, at Carrying Value | 10,836,000 | 12,581,000 | 10,836,000 | 12,581,000 | $ 11,967,000 | $ 17,254,000 | |
Money Market Funds, at Carrying Value | 6,566,000 | 6,566,000 | |||||
Other Cash Equivalents, at Carrying Value | 4,270,000 | 4,270,000 | |||||
Cash | 1,818,000 | 1,818,000 | |||||
Cash, Uninsured Amount | 8,357,000 | 8,357,000 | |||||
Allowance for Doubtful Accounts Receivable, Current | 64,000 | 64,000 | 35,000 | ||||
Capitalized Computer Software, Additions | 352,000 | 245,000 | 723,000 | 615,000 | |||
Capitalized Computer Software, Amortization | 122,000 | 64,000 | 342,000 | 168,000 | |||
Standard and Extended Product Warranty Accrual | $ 1,130,000 | 869,000 | 1,130,000 | 869,000 | $ 892,000 | $ 1,492,000 | |
Standard and Extended Product Warranty Accrual, Increase (Decrease) for Preexisting Warranties | $ (656,000) | $ (656,000) | |||||
Common Stock, Dividends, Per Share, Cash Paid | $ / shares | $ 0.35 | ||||||
Goodwill and Intangible Asset Impairment | 0 | ||||||
Impairment of Long-Lived Assets Held-for-use | $ 0 | ||||||
Computer Software, Intangible Asset [Member] | |||||||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||||||
Sales Revenue, Services, Net [Member] | Product Concentration Risk [Member] | Coins [Member] | |||||||
Concentration Risk, Percentage | 69.00% | 66.00% | |||||
Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member] | |||||||
Number of Major Customers | 5 | 5 | |||||
Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member] | Five Customers [Member] | |||||||
Concentration Risk, Percentage | 20.00% | 14.00% | |||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||||||
Number of Major Customers | 1 | 0 | |||||
Revolving Credit Facility [Member] | |||||||
Debt Instrument, Term | 3 years | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000,000 | ||||||
Line of Credit Facility, Commitment Fee Percentage | 0.0625% | ||||||
Line of Credit Facility, Commitment Fee Percentage, Threshold | $ 4,000,000 | ||||||
Long-term Line of Credit | $ 0 | $ 0 | |||||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | ||||||
Revolving Credit Facility [Member] | Prime Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | (0.25%) | ||||||
CHINA | |||||||
Cash | $ 1,414,000 | $ 1,414,000 | |||||
Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | shares | 411,000 | 411,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% |
Note 2 - Inventories - Inventor
Note 2 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Jun. 30, 2016 |
Inventory, gross | $ 3,622 | $ 2,574 |
Less inventory reserve | (769) | (739) |
Inventories, net | 2,853 | 1,835 |
Coins [Member] | ||
Inventory, gross | 459 | 437 |
Other Collectibles [Member] | ||
Inventory, gross | 446 | 292 |
Grading Raw Materials Consumable [Member] | ||
Inventory, gross | $ 2,717 | $ 1,845 |
Note 3 - Property and Equipme25
Note 3 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Jun. 30, 2016 |
Property and equipment, gross | $ 12,601 | $ 11,682 |
Less accumulated depreciation and amortization | (9,648) | (8,843) |
Property and equipment, net | 2,953 | 2,839 |
Coins and Stamp Grading Reference Sets [Member] | ||
Property and equipment, gross | 263 | 263 |
Computer Equipment [Member] | ||
Property and equipment, gross | 2,875 | 2,777 |
Computer Software [Member] | ||
Property and equipment, gross | 1,224 | 1,202 |
Equipment [Member] | ||
Property and equipment, gross | 5,798 | 5,134 |
Furniture and Office Equipment [Member] | ||
Property and equipment, gross | 1,145 | 1,116 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 1,244 | 1,138 |
Trading Card Reference Library [Member] | ||
Property and equipment, gross | $ 52 | $ 52 |
Note 4 - Accrued Liabilities -
Note 4 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Jun. 30, 2016 |
Warranty reserves | $ 1,130 | $ 892 |
Professional fees | 348 | 484 |
Other | 848 | 1,115 |
$ 2,326 | $ 2,491 |
Note 4 - Accrued Liabilities 27
Note 4 - Accrued Liabilities - Warranty Reserve Activity (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Warranty reserve | $ 892,000 | $ 1,492,000 | |
Provision charged to cost of revenues | 506,000 | 363,000 | |
Change in Estimate | $ (656,000) | (656,000) | |
Payments | (268,000) | (330,000) | |
Warranty reserve | $ 869,000 | $ 1,130,000 | $ 869,000 |
Note 5 - Discontinued Operati28
Note 5 - Discontinued Operations (Details Textual) - Jewelry Businesses [Member] | Mar. 31, 2017USD ($) |
Total Accrual Related to Remaining Lease Obligations | $ 359,000 |
Accrued Rent, Current | $ 359,000 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) | 9 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Effective Income Tax Rate Reconciliation, Percent | 37.00% | 39.00% |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | 2.00% |
Note 7 - Net Income Per Share30
Note 7 - Net Income Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Stock Options and Unvested Restricted Shares [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 10,000 | 24,000 | 5,000 | |
Performance Shares [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 254,000 | 279,000 | 260,000 | 264,000 |
Note 7 - Net Income Per Share -
Note 7 - Net Income Per Share - Computation of Basic and Diluted Net Loss Per Common Share (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Weighted average shares outstanding: Basic (in shares) | 8,482 | 8,447 | 8,478 | 8,441 |
Weighted average shares outstanding: Diluted (in shares) | 8,569 | 8,549 | 8,569 | 8,544 |
Restricted Stock [Member] | ||||
Dilutive effect of restricted shares (in shares) | 87 | 102 | 91 | 103 |
Note 8 - Business Segments (Det
Note 8 - Business Segments (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | Jun. 30, 2016USD ($) | |
Number of Reportable Segments | 3 | ||||
Revenue, Net | $ 18,596 | $ 17,329 | $ 52,206 | $ 44,583 | |
Assets | 28,938 | 28,938 | $ 28,190 | ||
Outside the United States[Member] | |||||
Revenue, Net | 1,300 | $ 1,400 | 7,000 | $ 3,400 | |
Outside the United States[Member] | Coins Segment and Unallocated Assets [Member] | |||||
Assets | $ 4,000 | $ 4,000 | $ 2,900 |
Note 8 - Business Segments - Se
Note 8 - Business Segments - Segment Reporting Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | ||
Net revenues | $ 18,596,000 | $ 17,329,000 | $ 52,206,000 | $ 44,583,000 | |
Depreciation and amortization | 414,000 | 394,000 | 1,243,000 | 1,094,000 | |
Stock-based compensation | 119,000 | 159,000 | 330,000 | 449,000 | |
Operating income | 4,709,000 | 4,405,000 | 11,994,000 | 9,290,000 | |
Operating Segments [Member] | |||||
Depreciation and amortization | 341,000 | 300,000 | 1,018,000 | 894,000 | |
Stock-based compensation | 33,000 | 27,000 | 70,000 | 80,000 | |
Operating income | 5,875,000 | 5,484,000 | 15,849,000 | 12,596,000 | |
Segment Reconciling Items [Member] | |||||
Depreciation and amortization | 73,000 | 94,000 | 225,000 | 200,000 | |
Stock-based compensation | 86,000 | 132,000 | 260,000 | 369,000 | |
Operating income | (1,166,000) | (1,079,000) | (3,855,000) | (3,306,000) | |
Coins [Member] | Operating Segments [Member] | |||||
Net revenues | [1] | 12,825,000 | 11,992,000 | 35,776,000 | 29,590,000 |
Depreciation and amortization | 163,000 | 118,000 | 461,000 | 381,000 | |
Stock-based compensation | 28,000 | 22,000 | 56,000 | 67,000 | |
Operating income | 4,481,000 | 4,516,000 | 12,033,000 | 10,117,000 | |
Trading Cards and Autographs [Member] | Operating Segments [Member] | |||||
Net revenues | 4,427,000 | 4,005,000 | 12,965,000 | 11,576,000 | |
Depreciation and amortization | 51,000 | 57,000 | 159,000 | 169,000 | |
Stock-based compensation | 3,000 | 3,000 | 8,000 | 8,000 | |
Operating income | 1,006,000 | 906,000 | 3,008,000 | 2,422,000 | |
Other Segments [Member] | Operating Segments [Member] | |||||
Net revenues | 1,344,000 | 1,332,000 | 3,465,000 | 3,417,000 | |
Depreciation and amortization | 127,000 | 125,000 | 398,000 | 344,000 | |
Stock-based compensation | 2,000 | 2,000 | 6,000 | 5,000 | |
Operating income | $ 388,000 | $ 62,000 | $ 808,000 | $ 57,000 | |
[1] | Includes service revenues of $1.3 million and $7.0 million generated from outside the United States in the three and nine months ended March 31, 2017, respectively as compared to $1.4 million and $3.4 million in the three and nine months ended March 31, 2016, respectively. |
Note 8 - Business Segments - Re
Note 8 - Business Segments - Reconciliation of Assets to Consolidated From Segment (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Jun. 30, 2016 | |
Identifiable Assets: | |||
Assets | $ 28,938 | $ 28,190 | |
Goodwill: | |||
Goodwill | 2,083 | 2,083 | |
Operating Segments [Member] | |||
Identifiable Assets: | |||
Assets | 14,177 | 12,635 | |
Operating Segments [Member] | Coins [Member] | |||
Identifiable Assets: | |||
Assets | [1] | 9,560 | 7,824 |
Goodwill: | |||
Goodwill | 515 | 515 | |
Operating Segments [Member] | Trading Cards and Autographs [Member] | |||
Identifiable Assets: | |||
Assets | 1,291 | 1,451 | |
Operating Segments [Member] | Other Segments [Member] | |||
Identifiable Assets: | |||
Assets | 3,326 | 3,360 | |
Goodwill: | |||
Goodwill | 1,568 | 1,568 | |
Segment Reconciling Items [Member] | |||
Identifiable Assets: | |||
Assets | [1] | $ 14,761 | $ 15,555 |
[1] | Includes assets of $4.0 million and $2.9 million outside the United States at March 31, 2017 and June 30, 2016, respectively. |
Note 9 - Related-party Transa35
Note 9 - Related-party Transactions (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Jun. 30, 2016 | Jul. 31, 2015 | |
Mr. Hall's Immediate Family Member [Member] | Grading and Authentication Fees [Member] | ||||||
Related Party Transaction, Other Revenues from Transactions with Related Party | $ 665,000 | $ 552,000 | $ 1,611,000 | $ 1,557,000 | ||
Accounts Receivable, Related Parties, Current | 150,000 | 150,000 | $ 92,000 | |||
Associate of Richard Kenneth Duncan Sr [Member] | ||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 5.00% | |||||
Associate of Richard Kenneth Duncan Sr [Member] | Grading and Authentication Fees [Member] | ||||||
Related Party Transaction, Other Revenues from Transactions with Related Party | 354,000 | $ 378,000 | 760,000 | $ 944,000 | ||
Accounts Receivable, Related Parties, Current | $ 0 | $ 0 | $ 101,000 |
Note 11 - Subsequent Events (De
Note 11 - Subsequent Events (Details Textual) - $ / shares | Apr. 24, 2017 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 |
Common Stock, Dividends, Per Share, Declared | $ 0.35 | $ 0.35 | $ 1.05 | $ 1.05 | |
Subsequent Event [Member] | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.35 |