0001089143-11-000023.txt : 20110916 0001089143-11-000023.hdr.sgml : 20110916 20110916144709 ACCESSION NUMBER: 0001089143-11-000023 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20110915 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110916 DATE AS OF CHANGE: 20110916 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COLLECTORS UNIVERSE INC CENTRAL INDEX KEY: 0001089143 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 330846191 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34240 FILM NUMBER: 111095060 BUSINESS ADDRESS: STREET 1: 1921 E. ALTON AVENUE CITY: SANTA ANA STATE: CA ZIP: 92705 BUSINESS PHONE: 9495671234 MAIL ADDRESS: STREET 1: 1921 E. ALTON AVENUE CITY: SANTA ANA STATE: CA ZIP: 92705 8-K 1 maindoc.htm 8-K-SEPTEMBER 15, 2011-ACQUISITION OF COINFLATION.COM maindoc.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):           September 15, 2011
 

COLLECTORS UNIVERSE, INC.
 
(Exact name of registrant as specified in its charter)

Delaware
1-34240
33-0846191
 
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
   
1921 E. Alton Avenue, Santa Ana, California
92705
(Address of principal executive offices)
(Zip Code)

Registrant’s telephone number, including area code:                                                                                     (949) 567-1234                                

 
N/A                                    
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
[  ]         Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
[  ]         Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
[  ]         Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
[  ]         Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 




 
 

 

Item 7.01     Regulation FD Disclosure
 
    On September 15, 2011, Collectors Universe, Inc. announced that it had completed the acquisition of Coinflation.com, an informational website providing precious metal values and the intrinsic values of individual coins. The Company paid a cash purchase price of $550,000 and stock of $200,000, for a total consideration of approximately $750,000.
 
    In that same press release, the Company reported that it expects revenues in the range of $11.4 million to $11.6 million and operating income in the range of $2.25 million to $2.35 million for the first quarter of fiscal 2012, compared to revenues of $9.8 million and operating income of $1.83 million for the first quarter of the fiscal 2011.
 
    A copy of the press release is attached as Exhibit 99.1 to this Current Report and that press release, including the cautionary statements regarding forward-looking information that are contained in the press release, are incorporated into this Current Report by this reference.
  
    In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report, including Exhibit 99.1 hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
 
 
Item 9.01
Financial Statements and Exhibits.
 
    (d)  
Exhibits.
 
Exhibit No.
 
Description
     
99.1
 
Press release issued by Collectors Universe, Inc. on September 15, 2011, announcing the acquisition of Coinflation.com



 

 

 

SIGNATURES
 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned, hereunto duly authorized.




   
COLLECTORS UNIVERSE, INC.
     
     
Dated:  September 16, 2011
By:
/s/ JOSEPH J. WALLACE
   
Joseph J. Wallace, Chief Financial Officer





 

 
S-1 

 


 
EXHIBIT INDEX
 
Exhibit No.
 
Description
     
99.1
 
Press release issued by Collectors Universe, Inc. on September 15, 2011 announcing the acquisition of Coinflation.com


 
 
 E-1

 
 
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Exhibit 99.1
 
 
Collectors Universe Acquires Coinflation.com
 
NEWPORT BEACH, CA – September 15, 2011 ― Collectors Universe, Inc. (NASDAQ: CLCT), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, today announced that it has purchased the assets of Coinflation.com, for cash of $550,000 and stock of $200,000 for total consideration of approximately $750,000.
 
Coinflation.com is an informational website providing precious metal values and the intrinsic values of individual coins. The website and related domain names has shown strong revenue growth during the past 12 months, due to the rise in precious metals and has attracted over 600,000 monthly unique visitors.  The business plan for the acquisition estimates a payback period of less than three years.
 
 While not a large acquisition, strategically, the combination of Coinflation.com with the various Collectors Universe web properties is expected to create numerous opportunities to drive incremental traffic, incremental advertising dollars and add to the Company's position as a service provider of valuable information and content to coin market participants.  Additionally, Alec Nevalainen, the founder of Coinflation.com, has agreed to join the Company as part of the transaction.  Alec will bring valuable skills and experience to the Company in the emerging digital environment.  The transaction fits well with the Company’s stated strategy of protecting its core businesses and extending pragmatically and prudently, with a particular emphasis on information and digital activities.

Separately, the Company announced that it expects revenues in the range of $11.4 million to $11.6 million and operating income in the range of $2.25 million to $2.35 million for the first quarter of fiscal 2012, compared to revenues of $9.8 million and operating income of $1.83 million for the first quarter of the fiscal 2011.
 
About Collectors Universe
 
Collectors Universe, Inc. is a leading provider of value-added services to the high-value collectibles markets. The Company authenticates and grades collectible coins, trading cards, event tickets, autographs, memorabilia and stamps (“collectibles”).  The Company also compiles and publishes authoritative information about United States and world coins, collectible trading cards and sports memorabilia, collectible stamps, and operates its CCE dealer-to-dealer Internet bid-ask market for certified coins and its Expos trade show and conventions business.  This information is accessible to collectors and dealers at the Company's website, http://www.collectors.com and is also published in print.
 
Cautionary Statements Regarding Forward-Looking Information
 
This news release contains statements regarding our expectations, beliefs or views about our future financial performance and trends in our business and in our markets, which constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements can often 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 and our markets are subject, our future financial performance 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
 
 
 
 

 
 
Collectors Universe, Inc.
Page 2 of 2
 
 
 
future financial performance, include, but are not limited to, the following: our continued dependence on our coin business which generated more than 60% of our consolidated revenues and a substantial portion of our operating income in the year ended June 30, 2011, making our operating results more vulnerable to conditions that could adversely affect the precious metals and coin markets ; the risk that the hoped for improvement in economic conditions in the United States may not materialize or increases in the prices of gold and silver, may slow or even decline, either of which could result in reductions in the demand for our collectibles authentication or  grading services and, consequently, in our revenues; the risk that the economic downturn from 2008 to 2010 and the anemic economic recovery will lead to longer-term changes in the spending habits of consumers and in the availability and use of credit by smaller businesses, such as collectibles dealers, to fund purchases of collectibles, which could lead to longer-term declines in collectibles commerce and, therefore, in the demand for our services; the risk that our strategies of offering new services and expanding our collectibles authentication and grading business into new geographic areas, such as Europe will not be successful in enabling us to improve our profitability or may even cause us to incur significant losses; the risk that it may become necessary for us to reduce the amount of, or suspend or discontinue the payment of cash dividends in the future, due to conditions or circumstances outside of our control, such as adverse economic or market conditions, as well as our future financial performance and the cash needs of our business in the future; and the risk that our continuing financial obligations with respect to two facilities in New York City, which we had leased for our subsequently discontinued jewelry businesses, will lead to reductions in cash flows and additional losses from discontinued operations in future periods.

Additional information regarding these risks and information regarding 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, 2011 filed with the Securities and Exchange Commission on August 26, 2011.  Due to these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release or in our Annual or Quarterly Reports, which speak only as of their respective dates.  We also disclaim any obligation to update or revise any of the forward-looking statements as a result of new information, future events or otherwise, except as may be required by law or NASDAQ rules.

 

 
Contact:
Joseph Wallace
Chief Financial Officer
Collectors Universe, Inc.
949-567-1245
Email: jwallace@collectors.com