NEWPORT BEACH, Calif., Dec. 4 /PRNewswire-FirstCall/ -- Collectors Universe, Inc. (Nasdaq: CLCT), the leading provider of value-added grading and authentication services and products to dealers and collectors of high-end collectibles, today announced the appointment of Jay W. Johnson, former Director of the U.S. Mint under the Clinton Administration, as Director of Business Development for the Company and its various strategic business units.
"Jay has impressive credentials and vast expertise in the coin markets, and we are delighted to bring on board such a high caliber leader to drive the ongoing expansion of the Service segment of our business," said Michael Haynes, chief executive officer of Collectors Universe. "Jay will be concentrating on the continuing growth of our Service business in the modern coin markets with both push and pull marketing strategies. His extensive knowledge of procedures and markets of the U.S. and foreign mints and other government agencies will be invaluable in our efforts to extend the consumer benefits of our unique grading services to the customers and collectors who regularly purchase mint products. With career highlights that include service as U.S. Mint Director, U.S. Congressman and USDA official, as well as broad communications expertise, we are extremely fortunate to have recruited a person of Jay's accomplishment, knowledge and ability to our Company."
Jay Johnson was appointed by President Clinton as the 36th Director of the U.S. Mint in May 2000. During his tenure, Mr. Johnson managed the multi-billion dollar production of the nation's coinage, setting new records for the total amount of coins produced and total revenue for the U.S. Treasury during that period. In 2000, Mr. Johnson also served as the chief advisor to the Executive Director of Marketing of U.S. Savings Bonds responsible for nationwide marketing, promotion and publicity.
Earlier, Mr. Johnson was Deputy Assistant Secretary for Congressional Relations for the USDA (United States Department of Agriculture) where he served as a liaison with the USDA Secretary for Agriculture for the promotion of Clinton Administration farming related agendas and policies.
From 1997 to 1999, Mr. Johnson served as a U.S. Congressman (WI 8th-D) holding key seats on House Agriculture and Transportation Committees. During his Congressional tenure, Mr. Johnson secured $31 million in highway funds for the 8th District of Wisconsin and millions more for local river dredging, airport improvements and local school improvements, fought unfair milk pricing policies, maintained local Coast Guard ship-building contracts, and championed education and Native American issues.
Most recently, Mr. Johnson has served as an independent communications consultant and advisor to information technology companies seeking government agency business. Highlights of his consultancy include the strategic development and execution of marketing and promotional programs for coin products and grading services. His broad scope of broadcast media communications experience was garnered throughout his career while working as a television and radio anchorman, reporter and producer for various stations in Wisconsin, Florida, Indiana and Michigan between 1965 and 1996.
Mr. Johnson is currently a member of several coin associations and clubs including the American Numismatic Association (ANA) where he is a frequent featured speaker at conventions and coin shows. He also received a President's Award from the ANA in 2001.
Jay Johnson joins Collectors Universe in the newly created position of Director of Business Development effective December 3, 2003.
About Collectors Universe
Collectors Universe, Inc. is the leading provider of products and essential services to the high-end collectibles market. The Collectors Universe brands are among the strongest and best known in their respective markets. The Company grades and authenticates collectible coins, sportscards, stamps, and autographs. The Company engages in collectibles commerce, selling coins, sportscards and sports memorabilia, and entertainment memorabilia through direct sales, auctions, catalogs, and the Internet. The Company also compiles and publishes authoritative information about collectible sports cards and sports memorabilia, United States and world coins, and entertainment memorabilia. 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 Statements
This news release contains statements regarding our expectations about our future financial performance that 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 words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Our actual results in the future may differ, possibly materially, from our current expectations as set forth in the forward looking statements contained in this release due to a number of risks and uncertainties. Those risks and uncertainties include, but are not limited to: changes in general economic conditions, including a potential further slowing of the economy and changes in conditions in the collectibles markets in which we operate, such as a possible decline in the popularity of some high-end collectibles, either of which could reduce the volume of grading submissions and, therefore, the grading fees we generate and the volume of collectible sales that we are able to make; increases in competition for and difficulties in obtaining consignments of collectibles that could reduce the size and profitability of our auctions; potential losses on owned collectible merchandise or the need to adjust these inventories to fair market value through inventory write downs; our dependence on a limited number of key management personnel the loss of any of which could adversely affect future financial performance; and seasonality and potential fluctuations in quarterly operating results and quarterly cash flows. Certain of these risks and uncertainties, in addition to other risks, are more fully described in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2003, as filed with the Securities and Exchange Commission. These forward-looking statements are made only as of the date of this news release, 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.
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