Collectors Universe Inc. (NASDAQ:CLCT) Q4 2020 Earnings Conference Call - Final Transcript
Aug 26, 2020 • 04:30 pm ET
Good afternoon, everyone, and thank you for joining us to discuss Collectors Universe's Financial Results for the Fourth Quarter and Year Ended June 30, 2020. With us today from management are Joseph J. Orlando, President and Chief Executive Officer and Joseph Wallace, Senior Vice President and Chief Financial Officer. Management will provide a brief overview of the quarter and then open the call up to your questions.
Comments made during today's call may contain statements regarding the company's expectations about its future financial performance, including forecasts and statements concerning business trends and profitability that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The company's actual results in the future may differ, possibly materially, from those forecast in this call due to a number of risks and uncertainties. Certain of these risks and uncertainties, in addition to other risks, are more fully described in the company's filings with the Securities and Exchange Commission.
The forward-looking statements are made only as of the date of today's conference call and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. And as a reminder, that today's program is also being recorded.
And with that, I'd now like to turn the call over to Joseph Orlando. Joe?
Joseph J. Orlando
Thank you and welcome to today's conference call to review our fiscal 2020. First and foremost, we hope all of you are safe and healthy. Before I summarize the results for the quarter and the full year, I would like to give a brief overview of the Collectors Universe business for any new listeners on today's call.
Collectors Universe is a leading provider of value-added services and content to the collectibles market. We authenticate and grade collectible coins, banknotes, trading cards, autographs and various types of memorabilia. We have two major business services: Professional Coin Grading Service or PCGS; and Professional Sports Authenticator or PSA. Since 1986, PCGS has examined and certified millions of U.S. and world coins, banknotes, medals and tokens.
PCGS had a solid performance in the fourth quarter despite the pandemic. PSA is the world's largest trading card, autograph and memorabilia authentication and grading service. Since 1991, PSA has examined and certified millions of collectibles. As our fastest growing segment, PSA set an all-time revenue record in the fourth quarter and has grown annually by about 26% since 2018. As of the end of fiscal 2020, Collectors Universe had certified more than 81 million total collectibles, with over 5 million of those certified in just the past year.
Let's move on to the fourth quarter and fiscal 2020 results. While the COVID-19 crisis presented our company with a host of challenges, our team quickly adjusted to the current operating environment and we achieved record revenues for Q4 and fiscal 2020. Beginning with the complete shutdown at the start of Q4 and transitioning to a skeleton crew a few weeks later, we gradually ramped up capacity under