Collectors Universe's Diamond Grading Division GCAL Selected as Exclusive Grading
Lab for Cushette(R) Diamonds
NEWPORT BEACH, Calif., Feb. 28 /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 and diamonds, today announced
that its diamond grading division Gem Certification & Appraisal Lab (GCAL) has executed
an agreement to become the exclusive grading lab for Cushette(R) diamonds (www.cushette.com),
a brand sold across the United States, Canada, Europe and Australia.
The Cushette diamond is a branded cut of diamond owned by VisionCut of New York.
The cut is patented with 77 facets more than the normal 58 facets in a traditional
cushion cut. According to VisionCut, the extra facets are properly included in the
overall cut of the diamond in order to increase the light coming into the stone
and the resulting brilliance. The Cushette is sold only at fine jewelry stores in
order to provide the best support and service for Cushette diamond owners.
"The Cushette is one of the best types of diamond cuts for white light return and
therefore, when we perform our direct light performance analysis, this cut of diamond
yields superior results," stated Don Palmieri President of GCAL. "We are pleased
to become the exclusive grading lab for Cushette diamonds and provide our Five Star
Diamond Certificate on this beautiful stone that will no doubt satisfy many buyers
in the marketplace."
"This is an excellent diamond brand for GCAL and a very appropriate application
of the bundled services we offer combining light performance, Gemprint and quality
analysis which sets the GCAL certificate apart from other grading services in the
diamond markets. We see this as another step in the right direction in establishing
our unique service offering in the diamond market," explained Michael Haynes, Chief
Executive Officer of Collectors Universe.
About Collectors Universe
Collectors Universe, Inc. is a leading provider of value added services to the high-value
collectibles and diamond markets. The Company authenticates and grades collectible
coins, sports cards, autographs, stamps, currency and diamonds. The Company also
compiles and publishes authoritative information about United States and world coins,
collectible sports cards and sports memorabilia, collectible stamps and diamonds.
This information is accessible to collectors and dealers at the Company's web site,
www.collectors.com, and is also published in print.
Forward Looking Information
This news release contains statements regarding our expectations about our future
financial performance which are "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
actual financial performance in the future 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, including, but not
limited to the risks that our strategy to expand into new collectibles and other
high value asset markets, such as the diamond market, will not be successful in
enabling us to improve our profitability and that those businesses and the services
that they provide will not gain market acceptance, or will increase our operating
expenses and possibly cause us to incur losses. Additional information regarding
these and 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, 2005 which
we filed with the Securities and Exchange Commission on September 13, 2005 and our
quarterly report on Form 10-Q for the fiscal quarter ended December 31, 2005, which
was filed with the Securities and Exchange Commission on February 9, 2006. Due to
the above-described risks and uncertainties and those described in our 2005 Annual
Report on Form 10-K and our quarterly report on Form 10-Q, readers are cautioned
not to place undue reliance on the forward-looking statements contained in this
news release, which speak only as of its date, or to make predictions about future
performance based solely on historical financial performance. We also disclaim any
obligation to update forward-looking statements contained in this news release or
in our Annual or Quarterly Reports filed with the Securities and Exchange Commission.
Cushette(R) is the registered trademark of VisionCut.
Chief Financial Officer
The Piacente Group, Inc.
SOURCE Collectors Universe, Inc.
CONTACT: Joe Wallace, Chief Financial Officer of Collectors Universe, +1-949-567-1245,
email@example.com; or Ingrid Shieh, Investor Relations of The Piacente Group,
Inc., +1-212-481-3019, firstname.lastname@example.org, for Collectors Universe, Inc.
Web site: http://www.cushette.com
Web site: http://www.collectors.com