Collectors Universe Earnings and Revenue Decline

Collectors Universe (CLCT) shares are 5% lower Friday after the company reported disappointing financial results for the fiscal fourth quarter ended June 30.

The company, which provides authentication and grading services to dealers of collectibles, reported net income of $1.8 million, or $0.21 per share, down from net income of $2.4 million, or $0.29 per share for the same quarter last year.

Total revenue of $15.2 million declined from $16.5 million for Q4 2014 due to a 13% decline in coin service revenue.

Gross profit margin also declined to 59% from 64%, while the company’s cash position declined to $17.3 million from $19.9 million.

Shares opened at $17.39, towards the lower end of its 52-week range of $11.66 to $25.82.

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