form8-k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of
The Securities Exchange Act of
1934
Date of Report (Date of earliest event
reported): July 14, 2008
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COLLECTORS UNIVERSE, INC.
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(Exact name of registrant as
specified in its charter)
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Delaware
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0-27887
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33-0846191
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(State or other jurisdiction of
incorporation)
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(Commission File
Number)
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(IRS Employer Identification
No.)
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1921 E. Alton Avenue, Santa Ana,
California
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92705
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(Address of principal executive
offices)
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(Zip
Code)
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Registrant’s telephone number, including
area code:
(949)
567-1234
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N/A
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(Former name or former address, if
changed since last report)
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Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
7.01
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Regulation
FD Disclosure
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On July
14, 2008, Collectors Universe, Inc. issued two press releases announcing,
respectively, that (i) its Board of Directors has adopted management’s plan
to reduce operating expenses by approximately $4.4 million in fiscal 2009,
which began July 1, 2008, and to achieve a modest increase in aggregate revenues
while continuing growth in the jewelry markets, and (ii) pursuant to its
previously adopted dividend policy, the Board of Directors has declared the
Company’s quarterly cash dividend of $0.25 per share of common stock for the
first quarter of fiscal 2009, which is payable on September 2, 2008 to
stockholders of record on August 19, 2008.
As stated
in the press release regarding planned expense reductions, those reductions are
to be achieved by means of personnel reductions, increases in the efficiency of
the Company’s marketing programs, made possible primarily by the maturing and
increased market awareness of Collectors Universe’s diamond grading business,
and reductions in general and administrative costs. Additionally,
expenditures in connection with the project to update and improve the Company’s
operating software systems, which has been underway since 2006, are expected to
decline in fiscal 2009, because that program is scheduled to be completed
in the first quarter of fiscal 2009. The foregoing description of the
press release regarding planned cost reductions is qualified, in its entirety,
by reference to a copy of that press release, which is attached as
Exhibit 99.1 to this Current Report on Form 8-K.
As stated
in the press release regarding the dividend declaration for the first quarter of
fiscal 2009, the declaration of future cash dividends, pursuant to the Company’s
dividend policy, is subject to final determination each quarter by the Board of
Directors based on a number of factors, including the Company's financial
performance and its available cash resources, its cash requirements and
alternative uses of cash that the Board may conclude would represent an
opportunity to generate a greater return on investment for the Company. For
these reasons, as well as others, there can be no assurance that dividends in
the future will be equal or similar in amount to the amounts described in this
press release or that the Board of Directors will not decide to suspend or
discontinue the payment of cash dividends in the future. The
description of the press release regarding the first quarter fiscal 2009
dividend is qualified, in its entirety, by reference to a copy of that press
release, which is attached as Exhibit 99.2 to this Current Report on Form
8-K.
In accordance with General Instruction
B. 2 of Form 8-K, the information in this Current Report, including Exhibits
99.1 and 99.2 hereto, are being furnished and shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that Section, nor shall such information
be deemed incorporated by reference in any filing under the Securities Act of
1933, as amended.
ITEM
9.01
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Financial
Statements and Exhibits.
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(d) Exhibits.
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Exhibit
No.
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Description
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99.1
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Press release issued July 14,
2008 announcing adoption of Expense Reduction Plan for fiscal
2009.
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99.2
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Press release issued July 14,
2008, announcing declaration of the Company’s regular quarterly
cash dividend of $0.25 per share of common stock for the first quarter
of
fiscal
2009.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this Current Report to be signed on its behalf by the undersigned,
hereunto duly authorized.
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COLLECTORS
UNIVERSE, INC.
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Dated: July
14, 2008
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By:
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/s/ JOSEPH J. WALLACE
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Joseph
J. Wallace, Chief Financial Officer
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EXHIBIT
INDEX
Exhibit
No.
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Description |
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Press release issued July 14,
2008 announcing adoption of Expense Reduction Plan for fiscal
2009.
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Press release issued July 14,
2008, announcing declaration of the Company’s regular quarterly
cash dividend of $0.25 per share of common stock for the first quarter of
fiscal 2009.
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