CEO said record backlog going into this quarter. This qtr is stronger than the year ago quarter
45% growth rate yr/yr US growth rate for PCGS
30% growth rate yr/yr Paris/Hong Kong PCGS
10% PSA growth rate
Shanghai submissions exceeded expectations
Chinese language CoinFacts and Price Guide
dividend coverage - long term growth plan will cover dividend and then some
dbtunr: Actually, CLCT did a bit better than you had predicted. If I recall, you were estimating 23 cents GAAP last week and we got 25 cents GAAP. But I am sure you are not unhappy about this. You are correct, this is a very nice quarter and a short and sweet prediction for the future too. Not too much was said, just that the CLCT President was happy, and CLCT is going to continue to expand its foreign operations.
I think we could be looking at $20/share or even low $20's if the USA doesn't bomb Syria in the next week.
All looks good. I really thought you were going to be a few cents high. My incentive for not selling @ 17 or in light of this quarter, (unless things get crazy) is here... "an expanded international presence, especially in Asia." I think there's massive money to be made there.
I think starting the Shanghai business was hard to model. Totally unknown how much they needed to get that up and going. Would have been blow away numbers were it not for that. They were cash flow neutral last qtr due to Asia
coin certs were low vs. stats page last quarter too. Was the gap appx the same percentage? If so, without knowing the cause, you could still end up being able to make precise estimates. I know they're on the boards here somewhere so if you don't look into it I might do it later.
Also, even if they're getting a little beat opening in Shanghai, I stand by my optimism there. I expect the actual operations will be great. The call will probably prove me right/wrong shortly. Hopefully they can learn from the experience and streamline wherever else they expand to.