Posted By:
MWExcerpt from COLLECTORS UNIVERSE INC (CLCT)Quarterly Report (SEC form 10-Q), May 15, 2003:
"Sportscard grading revenues for the three and nine months ended March 31, 2003 and 2002, respectively, declined significantly compared to the same periods last year, indicating a continued degradation in the demand for sportscard grading."
I think what they really mean is "continued degradation" in the demand for PSA grading. Other major grading companies have actually seen an increase in submissions during the same time period.
Also, I found this language (from the same report) to be somewhat interesting:
"In particular, the factors described in our Annual Report that could adversely affect our future financial performance include...increased competition from other collectibles auction and grading companies; the risk that we will incur unanticipated liabilities under our authentication and grading warranties; and government regulation that could cause operating costs to increase."