Collectors Universe Reports Results for Fourth Quarter Ended June 30, 2009

Continuing Operations EPS for Fourth Quarter at $0.15

NEWPORT BEACH, Calif., Aug. 27 /PRNewswire-FirstCall/ -- 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 financial results for its fourth fiscal quarter and year ended June
30, 2009. As previously reported, the Company exited the jewelry grading
businesses as of March 2, 2009. In addition, in the fourth quarter, the
Company decided to discontinue the further development of its Gemprint
business. As a result, the remaining assets and liabilities of the jewelry
grading businesses have been classified as held for sale and their related
operating results, as well as the operating results of the currency grading
business and Gemprint, have been classified as discontinued operations for all
periods presented.

Overview
Continuing Operations Fourth Quarter and Fiscal Year 2009
For the fourth fiscal quarter of 2009, the Company reported net service
revenues of $9.7 million, operating income of $1.2 million and after tax
income from continuing operations of $1.4 million, or $0.15 per diluted share.
This compares to net service revenues of $9.5 million, operating income of
$497,000 and an after tax loss from continuing operations of $648,000, or
$0.07 per diluted share for the fourth quarter of 2008.

For the year ended June 30, 2009, the Company's net service revenues were
$35.5 million, operating income was $2.1 million and after tax income from
continuing operations was $1.2 million, or $0.13 per diluted share. This
compares to net service revenues of $38.5 million, operating income of $1.3
million and after tax income from continuing operations of $0.3 million, or
$0.03 per diluted share, for fiscal year 2008.

The above results were achieved despite a non cash impairment loss of $649,000
recognized in the fourth quarter and fiscal 2009 associated with a write down
of capitalized software costs for the Company's autograph business.

Discontinued Fourth Quarter and Fiscal Year 2009
For the three months and fiscal year ended June 30, 2009, losses from
discontinued operations were $1.3 million, or $0.14 per diluted share, and
$18.1 million, or $1.98 per diluted share, respectively, as compared to losses
from discontinued operations, net of taxes, of $12.5 million or $1.34 per
diluted share and $15.9 million or $1.69 per diluted share, respectively, for
the corresponding periods of fiscal 2008. Our discontinued operations are
discussed in more detail below.

Net Income for the Fourth Quarter and Loss for Fiscal Year 2009
The resulting net income for the fourth quarter ended June 30, 2009 was
$87,000, or $0.01 per diluted share and the net loss for fiscal year 2009 was
$16.9 million or $1.85 per diluted share as compared to a net loss of $13.1
million, or $1.41 per diluted share and $15.6 million or $1.66 per diluted
share for the fourth quarter and fiscal year ended June 30, 2008,
respectively.

Operational and Financial Highlights:
-- The total service revenues increase of 2% in the current fourth
quarter
compared to the same quarter of last year, included a 14% increase in
coin total service revenues.
-- The Company's operating income for the current fourth quarter was
$1.2 million or 13% of revenues compared with $497,000 or 5% of
revenues
in the fourth quarter of last year, due primarily to cost reductions
implemented and operational efficiencies achieved in fiscal 2009.
-- The loss from discontinued operations of $1.3 million in the current
fourth quarter included an additional reserve of $0.9 million
associated
with New York lease obligations of the Company's former jewelry
businesses, due to the continued softness in the New York commercial
real estate market.
-- Cash and cash equivalents at June 30, 2009 were $23.9 million, up from
$20.8 million at March 31, 2009.

-- On July 10, 2009 the Company completed a modified Dutch Auction Tender
offer and accepted for purchase 1,749,828 shares at $5 per share for
$8,749,140 cash.

Michael McConnell, Chief Executive Officer, stated, "We're encouraged by the
Company's financial performance during the quarter. The results demonstrate a
commitment by all of our employees to both tactical initiatives to drive
revenue as well as a keen focus on cost controls throughout the Company."

Results of Operations of our Continuing Businesses
The 2% increase in net service revenues in the current fourth quarter compared
to the same quarter of the prior year was comprised of a $0.2 million or 8%
increase in related services with grading and authentication fees at
approximately the same level as in the prior fourth quarter. Grading and
authentication fees comprised an increase $0.6 million or 12% in coins offset
by declines of 16% in cards and autographs and 46% in stamps. The increase in
other related services included increases in advertising and collector club
memberships.

Net service revenues for fiscal year 2009 declined by 8% compared to fiscal
2008 and comprised a $2.9 million or 9% decline in grading and authentication
fees with other related services substantially the same as fiscal 2008. The
decline in grading and authentication fees was comprised of $1.2 million or 6%
in coins, $1.2 million or 12% in cards and autographs and the balance of $0.5
million or 34% for stamps.

The gross profit margin on service revenues increased to 58% and 56% in the
fourth quarter and fiscal 2009 respectively compared with 52% and 53% for the
same periods of the prior year, when the prior year is adjusted for the
unusually large coin warranty claims of $822,000 recognized in the second
quarter of that period. The increased gross profit margin was due to cost
savings resulting from a cost reduction program implemented in the current
fiscal year.

Operating expenses for the fourth quarter and fiscal 2009 before the
impairment of $649,000 were down to $3.8 million and $16.8 million,
respectively, compared to $4.4 million and $18.4 million for the same periods
of the prior year. The $0.6 million and $1.6 million reductions in our
operating expenses was attributable to reductions in both selling and
marketing expenses and general and administrative ("G&A) expenses as a result
of the cost reduction programs in fiscal 2009. The fiscal 2009 G&A expense
reduction was achieved despite a severance cost of $0.4 million related to the
departure of the Company's former chief executive officer.

Income Taxes
The income tax expense of $1.2 million for fiscal 2009 represented an increase
in a non-cash valuation allowance established against deferred tax assets, due
to uncertainty as to their realization, partially offset by a tax benefit of
$0.1 million recognized in the current fourth quarter, due to the resolution
of some of the Company's uncertain tax positions. For fiscal 2008, the income
tax expense reflected the effective tax rate for those periods and a valuation
allowance established in the fourth quarter of fiscal 2008 for California
Enterprise Zone Credits due to uncertainty of realization.

Discontinued Operations
Losses from discontinued operations for the fourth quarter and fiscal 2009
totaled $1.3 million and $18.1 million, respectively. The 2009 fourth quarter
loss of $1.3 million included the $0.9 million recognized for the New York
lease obligations, costs associated with operating Gemprint through June 2009
and other exit costs. For fiscal year 2009, the loss from discontinued
operations of $18.1 million comprised (i) losses of $5.1 million from the
operations of the jewelry, currency grading businesses and Gemprint through
the respective dates of sale or closure, (ii) losses of $5.3 million
recognized in the third and fourth quarters, resulting from the discontinuance
of primarily the jewelry grading businesses and was inclusive of $4.0 million
for the New York lease obligations and (iii) non-cash impairment losses
recognized in the second quarter of fiscal 2009, totaling $7.7 million,
attributable to the write-off of goodwill and other long-lived assets of the
jewelry businesses.

The losses from discontinued operations of $12.5 million and $15.9 million in
the fourth quarter and fiscal 2008 respectively, comprised losses from the
then on-going operations of our jewelry and currency businesses, net of taxes
and impairment losses of $11.2 million recognized in the fourth quarter of
fiscal 2008.

Financial Condition
At June 30, 2009, cash and cash equivalents totaled $23.9 million compared
with $20.8 million at March 31, 2009 and $23.3 million at June 30, 2008. Net
cash generated in fiscal 2009 of $0.5 million included cash generated from
continuing operations of $5.8 million and from the net repayment of CFC notes
receivable of $3.3 million reduced by net cash used in discontinued operations
of $5.8 million, the payment of dividends to stockholders of $2.1 million, the
net buyback of shares of $0.3 million and capital expenditures of $0.4
million. At June 30, 2009, the Company had working capital of $21.4 million.

Outlook
McConnell continued, "Looking forward into 2010, our focus is to build upon
the solid performance achieved in the current quarter."

Conference Call and Webcast
Collectors Universe will host a conference call to discuss results on
Thursday, August 27, 2009 at 5:00 p.m. Eastern/2:00 p.m. Pacific. Interested
parties may participate in the conference call by dialing 888-549-7750 or
480-629-9867, five to ten minutes prior to the initiation of the call. A
replay of the conference call will be available through September 11, 2009, by
dialing 800-406-7325 or 303-590-3030 and entering access code 4148865#. A
live webcast of the conference call will also be available on the Collectors
Universe website, www.collectors.com, under Investor Relations: Earnings
Conference Calls. The webcast will be archived for 12 months.

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, sports cards, autographs and stamps. The Company also
compiles and publishes authoritative information about United States and world
coins, collectible trading cards and sports memorabilia and 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 web site,
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, which constitute
"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."

Due to a number of risks and uncertainties to which our business is 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 future financial performance,
include, but are not limited to, the risk that economic conditions in the
United States will not improve for some time and may even deteriorate further,
which could result in further reductions in the demand for our collectible
grading services and, consequently, in our revenues; the risk that the current
economic recession and credit crisis will lead to longer term changes in the
spending habits of consumers and in the availability and use of credit by of
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
strategy to offer new services in our continuing collectibles markets will not
be successful in enabling us to improve our profitability or may even cause us
to incur significant losses; and the risk that the commercial real estate
market in New York City will deteriorate further, in which case we may not be
able to sublease the offices and laboratory facilities in New York City
formerly occupied by our jewelry businesses within the time periods and for
the rents currently expected, causing our rental payment obligations to be
significantly higher than currently expected which could lead to reductions in
cash flows and cause us to incur 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, 2008 and our
Quarterly Report on Form 10-Q for the third quarter ended March 31, 2009 filed
with the Securities and Exchange Commission, which will be supplemented and
updated by the discussion of risk factors in our on Annual Report on Form 10-K
for our fiscal year ended June 30, 2009. 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
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
949-567-1245
Email: jwallace@collectors.com

- tables to follow -

COLLECTORS UNIVERSE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)

Three Months Ended Year Ended
June 30, June 30,
---------------------- -------------------
2009 2008 2009 2008
-------- -------- -------- --------
Net Revenues:
Grading, authentication
and related services $9,659 $9,505 $35,520 $38,459
Product sales 95 133 394 1,046
------- ------- ------- -------
9,754 9,638 35,914 39,505
Cost of Revenues:
Grading, authentication
and related services 4,034 4,587 15,790 18,805
Product sales 87 147 595 974
------- ------- ------- -------

4,121 4,734 16,385 19,779
------- ------- ------- -------

Gross profit 5,633 4,904 19,529 19,726
Operating expenses:
Selling and marketing
expenses 1,031 1,172 4,306 5,137
General and
administrative expenses 2,472 3,096 11,615 12,793
Impairment loss 649 - 649 -
Amortization of
intangible assets 251 139 871 490
------- ------- ------- -------

Total operating expenses 4,403 4,407 17,441 18,420
------- ------- ------- -------

Operating income 1,230 497 2,088 1,306
Interest income, net 29 155 284 1,138
Other income - 3 14 6
------- ------- ------- -------

Income before income taxes 1,259 655 2,386 2,450
Provision (benefit) for
income taxes (136) 1,303 1,183 2,155
------- ------- ------- -------

Income (loss) from
continuing operations 1,395 (648) 1,203 295
Loss from discontinued
operations, including
loss on sale of
discontinued businesses
(net of income taxes) (1,308) (12,465) (18,126) (15,927)
------- ------- ------- -------
Net loss $87 $(13,113) $(16,923) $(15,632)
======= ======== ======== ========

Net income (loss) per
basic share:
Income (loss) from
continuing operations $0.15 $(0.07) $0.13 $0.03
Loss from discontinued
operations, including
loss on sale of
discontinued businesses
(net of income taxes) (0.14) (1.35) (1.99) (1.71)
------- ------- ------- -------

Net income (loss) $0.01 $(1.42) $(1.86) $(1.68)
======= ======== ======== ========

Net income (loss) per
diluted share:
Income (loss) from
continuing operations $0.15 $(0.07) $0.13 $0.03
Loss from discontinued
operations, including
loss on sale of
discontinued businesses
(net of income taxes) (0.14) (1.34) (1.98) (1.69)
------- ------- ------- -------
Net loss $0.01 $(1.41) $(1.85) $(1.66)
======= ======== ======== ========

Weighted average shares
outstanding:
Basic 9,102 9,211 9,103 9,295
Diluted 9,140 9,274 9,135 9,419
Dividends declared per
common share $- $0.23 $0.23 $0.91

COLLECTORS UNIVERSE, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
(unaudited)

June 30, June 30,
2009 2008
-------- -------
ASSETS
Current assets:
Cash and cash equivalents $23,870 $23,345
Accounts receivable, net of allowance of $63 at
June 30, 2009 and $27 at June 30, 2008 1,252 1,211
Refundable income taxes - 575
Inventories, net 497 961
Prepaid expenses and other current assets 868 804
Customer notes receivable, net of allowance of
$31 at June 30, 2009 and 2008 2,340 2,062
Net deferred income tax asset - 486
Customer notes receivables held for sale - 3,579
Notes receivable from sale of net assets of
discontinued operations 212 92
Current assets from discontinued operations 102 450
------- -------
Total current assets 29,141 33,565

Property and equipment, net 1,174 1,617
Goodwill 2,626 2,626
Intangible assets, net 2,776 4,035
Net deferred income tax assets - 909
Note receivable from sale of net assets of
discontinued operations 300 138
Other assets 74 127
Non-current assets of discontinued operations 182 9,001
------- -------
$36,273 $52,018
======= =======
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $1,051 $1,348
Accrued liabilities 1,344 1,357
Accrued compensation and benefits 1,341 1,269
Income taxes payable 252 368
Deferred income tax liability 60 -
Deferred revenue 1,883 2,002
Current liabilities of discontinued operations 1,827 1,224
------- -------
Total current liabilities 7,758 7,568
Deferred rent 220 174
Net deferred income tax liability 208 -
Long-term liabilities of discontinued operations 3,308 446
Commitments and contingencies - -

Stockholders equity:
Preferred stock, $.001 par value; 3,000 shares
authorized at June 30, 2009; 5,000 at June 30,
2008; no shares issued or outstanding - -
Common stock, $.001 par value; 20,000 shares
authorized at June 30, 2009 and 45,000 at June 30,
2008; outstanding 9,158 at June 30, 2009 and
8,361 at June 30, 2008 9 8
Additional paid-in capital 75,957 75,996
Accumulated deficit (51,187) (32,174)
------- -------
Total stockholders' equity 24,779 43,830
------- -------
$36,273 $52,018
======= =======

SOURCE Collectors Universe, Inc.

Joseph Wallace, Chief Financial Officer of Collectors Universe,
+1-949-567-1245, jwallace@collectors.com