Exhibit 99.1
COLLECTORS UNIVERSE ANNOUNCES INCREASE IN QUARTERLY CASH DIVIDEND TO $0.12 PER
SHARE AND DECLARES $0.12 PER SHARE DIVIDEND FOR THIRD QUARTER ENDING
MARCH 31, 2007
NEWPORT BEACH, Calif., Dec. 5 /PRNewswire-FirstCall/ -- Collectors Universe,
Inc. (Nasdaq: CLCT), a leading provider of value-added authentication and
grading services to dealers and collectors of high-value collectibles, diamonds
and colored gemstones, today announced that its Board of Directors has approved
an increase in its cash dividend that calls for the payment of an expected total
annual cash dividend of $0.48 per common share, payable in the amount of $0.12
per share per quarter. At the same time, the Board also declared a $0.12 per
share cash dividend for the quarter ending March 31, 2007. That dividend will be
paid on January 17, 2007 to all stockholders of record as of January 3, 2007.
"The Board of Directors is committed to enhancing stockholder value and we
believe that this increase in the regular cash dividend, from $0.08 to $0.12 per
quarter, is consistent with that objective because it provides a way of
returning more of the cash flow generated by our business to our loyal
stockholders," announced A. Clinton Allen, Chairman of the Company's Board of
Directors.
"We believe that, even after the payment of cash dividends, the Company will
have sufficient cash resources to continue the implementation of our growth
strategies," added Michael R. Haynes, Chief Executive Officer. "The increased
cash dividend also reflects our continued financial strength, our optimism about
the Company's future financial performance and our desire to have our
stockholders share directly in our continued success."
The declaration of cash dividends in the future, pursuant to the Company's
dividend policy, is subject to final determination each quarter by the Board of
Directors based on a number of factors, including the Company's financial
performance and its available cash resources, its cash requirements and
alternative uses of cash that the Board may conclude would represent an
opportunity to generate a greater return on investment for the Company. For
these reasons, as well as others, there can be no assurance that dividends in
the future will be equal or similar in amount to the amounts described in this
press release or that the Board of Directors will not decide to suspend or
discontinue the payment of cash dividends in the future.
About Collectors Universe
Collectors Universe, Inc. is a leading provider of value added services to
the high-value collectibles and diamond and colored gemstones markets. The
Company authenticates and grades collectible coins, sports cards, autographs,
stamps currency, diamonds and colored gemstones. The Company also compiles and
publishes authoritative information about United States and world coins,
collectible sports cards and sports memorabilia, collectible stamps, diamonds
and colored gemstones. This information is accessible to collectors and dealers
at the Company's web site, www.collectors.com, and is also published in print.
Cautionary Statements Regarding Forward Looking Information
This news release contains statements regarding our expectations about our
future financial performance which are "forward-looking statements" as defined
in the Private Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by the use of words such as "believe," "expect,"
"anticipate," "intend," "plan," "estimate," "project," or future or conditional
verbs such as "will," "would," "should," "could," or "may."
Due to a number of risks and uncertainties to which our business is subject,
our actual financial performance in the future may differ, possibly
significantly, from our expected financial performance as set forth in the
forward looking statements contained in this news release. Information regarding
those risks and uncertainties, and their possible impact on our future financial
performance, including, but not limited to the risks that our strategy to expand
into new collectibles and other high value asset markets, such as the diamond
and colored gemstones markets, will not be successful in enabling us to improve
our profitability and that those businesses and the services that they provide
will not gain market acceptance, or will increase our operating expenses and
possibly cause us to incur losses. Additional information regarding these and
other risks and uncertainties to which our business is subject is contained in
our Annual Report on Form 10-K for our fiscal year ended June 30, 2006 which we
filed with the Securities and Exchange Commission on September 13, 2006 and our
Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2006,
which was filed with the Securities and Exchange Commission on November 9, 2006.
Due to the above-described risks and uncertainties and those described in our
2006 Annual Report on Form 10-K and our Quarterly Report on Form 10-Q, readers
are cautioned not to place undue reliance on the forward-looking statements
contained in this news release, which speak only as of its date, or to make
predictions about future performance based solely on historical financial
performance. We also disclaim any obligation to update forward-looking
statements contained in this news release or in our Annual or Quarterly Reports
filed with the Securities and Exchange Commission.
Contact:
Joe Wallace
Chief Financial Officer
Collectors Universe
949-567-1245
Email: jwallace@collectors.com
Brandi Piacente
Investor Relations
The Piacente Group, Inc.
212-481-2050
Email: brandi@thepiacentegroup.com
SOURCE Collectors Universe, Inc.
-0- 12/05/2006
/CONTACT: Joe Wallace, Chief Financial Officer of Collectors Universe,
Inc., +1-949-567-1245, jwallace@collectors.com; or Investor Relations, Brandi
Piacente of The Piacente Group, Inc., +1-212-481-2050,
brandi@thepiacentegroup.com, for Collectors Universe, Inc./
/Web site: http://www.collectors.com /
(CLCT)