8-K

                                  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) March 13, 2007


                              GAMCO INVESTORS, INC.
             (Exact name of registrant as specified in its charter)

              New York                1-14761                13-4007862
           (State or other          (Commission            (IRS Employer
   jurisdiction of incorporation)   File Number)         Identification No.)

      One Corporate Center, Rye, NY                            10580
 (Address of principal executive offices)                    (Zip Code)

        Registrant's telephone number, including area code (914) 921-3700


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 (see General Instruction A.2 below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))






     Item 2.02. Results of Operations and Financial Condition.

     The following information is furnished pursuant to Item 2.02, "Results of
Operations and Financial Condition."

     On March 16, 2007, GAMCO Investors, Inc. ("GAMCO") issued a press release
regarding revisions to its fourth-quarter and full-year 2006 earnings. A copy of
GAMCO's press release is attached hereto as Exhibit 99.1 and hereby incorporated
by reference.


     Item 4.02. Non-Reliance on Previously Issued Financial Statements or a
Related Audit Report or Completed Interim Review.

     On March 13, 2007, management concluded that GAMCO would restate its
previously filed financial statements for the first three quarters of 2006 to
correct the reporting of individual assets and liabilities of certain
proprietary investment accounts in accordance with U.S. generally accepted
accounting principles. In the consolidated statements of financial condition,
the assets and liabilities (primarily short positions and margin) associated
with these proprietary investments were reported on a net basis, rather than
reported on a gross basis.

     GAMCO plans on filing as soon as reasonably practicable amended quarterly
reports on Form 10-Q for the quarters ended March 31, 2006, June 30, 2006 and
September 30, 2006. Accordingly, the financial statements previously filed by
GAMCO in its quarterly reports on Form 10-Q for the quarters ended March 31,
2006, June 30, 2006 and September 30, 2006 should no longer be relied upon.
Management discussed all of the matters described above with GAMCO's independent
accountants.


     Item 9.01. Financial Statements and Exhibits.

     (d) Exhibits

     99.1   GAMCO's Press Release, dated March 16, 2007.





                                  Exhibit Index
                                  -------------

Exhibit No.
- -----------

99.1   GAMCO's Press Release, dated March 16, 2007.


SIGNATURE
- ---------

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                       GAMCO Investors, Inc.

                                       By:         /s/ John C. Ferrara
                                           -----------------------------------
                                                     John C. Ferrara
                                             Interim Chief Financial Officer


Date:  March 16, 2007
       --------------

EX-99.1

                                                                    Exhibit 99.1

           GAMCO Reports Change in Fourth Quarter Earnings

   Positive Adjustment Results in an 11% Increase of $0.09 per Share


    RYE, N.Y.--(BUSINESS WIRE)--March 16, 2007--GAMCO Investors, Inc.
(GAMCO) (NYSE: GBL) reported revised fourth quarter fully diluted
earnings of $0.88 per share versus $0.67 per share reported for the
fourth quarter of 2005. Previously, GAMCO reported fourth quarter
results of $0.79 per share versus $0.67 per share in the comparable
prior year period.

    This 11% increase from what was previously reported for the fourth
quarter of 2006 is due to accounting adjustments from material
weaknesses that are discussed in the 2006 Form 10-K. The Form 10-K was
filed late on March 16, 2007 requiring a filing of SEC Form 12b-25.

    For the full year, the earnings are adjusted $0.09 per share to
$2.40 per share from the previously-reported $2.31 per share on a
fully diluted basis. In calendar 2005, GAMCO reported $2.10 per share
on a fully diluted basis.

    GAMCO Investors, Inc., through its subsidiaries, manages private
advisory accounts (GAMCO Asset Management Inc.), mutual funds and
closed-end funds (Gabelli Funds, LLC), and partnerships and offshore
funds (Gabelli Securities, Inc.). As of December 31, 2006, GAMCO had
approximately $28.1 billion in assets under management.

    CONTACT: GAMCO Investors, Inc.
             Douglas R. Jamieson, 914-921-5020
             President & Chief Operating Officer
             or
             John C. Ferrara, 914-921-5147
             Interim Chief Financial Officer
             or
             For further information please visit www.gabelli.com