Collectors Universe, Inc. (NASDAQ:CLCT)

First Quarter 2014 Financial Results

• Service revenues increased by $3.5 million or 33% to a first quarter record of $14.2 million, compared to $10.7 million in the same quarter of the prior year.
• Income from continuing operations was $1.7 million, or $0.20 per diluted share, for this year's first quarter, compared to $0.8 million, or $0.10 per diluted share, for last year's first quarter.

Commentary and Outlook

Robert Deuster, Chief Executive Officer, stated, "We are very pleased with the performance of all our businesses and the immediate contribution of our newly opened Shanghai operation to our revenue growth. This quarter's revenue performance is a record, now three quarters in a row, which has been fueled by a healthy collectibles market; our introduction over the past year of new high value services for customers and an expanded presence in new geographic markets. We believe our marketplace recognizes the value of our brands and Collectors as the preferred third party grading company. Resales and auction sales at premium prices of high value coins and cards which were graded by PCGS or PSA, as reported in the trade press over the last few years, more clearly shows that value. Bringing that value to collectors and collectibles dealers worldwide is our mission."