Collectors Universe Launches New Service in Professional Coin Grading Service Division Collectors Universe, PCGS's new service will provide attributions to more than 3,000 die-varieties defined by the Comprehensive Catalogue and
Encyclopedia of Morgan & Peace Dollars.
"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."
Our financial performance in the future may differ, possibly
significantly, from our current expectations about our future financial
performance as set forth in the forward looking statements contained in this
news release due to a number of risks and uncertainties. Those risks and
uncertainties include, but are not limited to: the possibility of changes in
general economic conditions or conditions in the collectibles markets, such as
a possible decline in the popularity of some high-value collectibles, which
could result in reductions in the volume of authentication and grading
submissions and, therefore, the fees we are able to generate; a lack of
diversity in our sources of revenues and our dependence on coin authentication
and grading for a significant percentage of our total revenues, which makes us
more vulnerable to adverse changes in economic and market conditions,
including declines in the value of precious metals or recessionary conditions,
that could lead to reduced coin and other collectibles submissions, with a
resultant reduction in our revenues and in our income; the fact that five of
our customers accounted for approximately 27% of our net revenues during
fiscal 2005, which means that our operating result could decline if any of
those customers were to terminate or significantly reduce the business that
they conduct with us; our dependence on certain key executives and
collectibles experts, the loss of the services of any of which could adversely
affect our ability to obtain authentication and grading submissions and,
therefore, could harm our operating results; increased competition from other
collectibles services companies that could result in reductions in
collectibles submissions to us or could require us to reduce the prices we
charge for our services; the risk that we will incur unanticipated liabilities
under our authentication and grading warranties that would increase our
operating expenses; the risk that new service offerings and business
initiatives that we may undertake will not gain market acceptance or will
increase our operating expenses or reduce our overall profitability or cause
us to incur losses; the risk that our strategy to exit the collectibles sales
business and focus substantially all of our resources on our authentication
and grading businesses will not be successful in enabling us to improve our
profitability over the longer term or to grow our existing businesses or
expand into new collectibles or high value asset markets; and. if we grow our
business by acquiring any existing or commencing any new authentication and
grading businesses, the risks that we will be unable to successfully integrate
those businesses into our operations, that those businesses will not gain
market acceptance; and that business expansion may result in a costly
diversion of management time and resources and increase our operating
expenses. Additional information regarding these and other
