-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FowW83szjbWpTRC7i4J5WlB05s5dROEUvtQ7kCNO1j2eXCGGQAc2dMD3ZxsPIRGa vcXJi/ARncml4AoKx2gnsg== 0000754811-06-000024.txt : 20060214 0000754811-06-000024.hdr.sgml : 20060214 20060214113914 ACCESSION NUMBER: 0000754811-06-000024 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051231 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20060214 DATE AS OF CHANGE: 20060214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: U S GLOBAL INVESTORS INC CENTRAL INDEX KEY: 0000754811 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 741598370 STATE OF INCORPORATION: TX FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13928 FILM NUMBER: 06609329 BUSINESS ADDRESS: STREET 1: 7900 CALLAGHAN RD CITY: SAN ANTONIO STATE: TX ZIP: 78229 BUSINESS PHONE: 2103081234 MAIL ADDRESS: STREET 1: 7900 CALLAGHAN ROAD CITY: SAN ANTONIO STATE: TX ZIP: 78229 FORMER COMPANY: FORMER CONFORMED NAME: UNITED SERVICES ADVISORS INC /TX/ DATE OF NAME CHANGE: 19950321 8-K 1 r8k-0206.txt FORM 8-K - EARNINGS FOR PERIOD ENDING 12/31/2005 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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): February 14, 2006 U.S. GLOBAL INVESTORS, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Texas 0-13928 74-1598370 - -------------------------------------------------------------------------------- (State of other juris- (Commission IRS Employer diction of incorporation) File Number) Identification No.) 7900 Callaghan Road, San Antonio, Texas 78229 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 210-308-1234 - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 2.02. Results of Operations and Financial Condition. On February 14, 2006, U.S. Global Investors, Inc. issued a press release reporting earnings and other financial results for its second fiscal quarter of the fiscal year ending June 30, 2006. A copy of the press release is attached and being furnished as Exhibit 99. SIGNATURES 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. U.S. Global Investors, Inc. By:/s/ Susan B. McGee ------------------------ Susan B. McGee President/General Counsel Dated: February 14, 2006 EX-99 2 exh99.txt PRESS RELEASE Contact: Erica Borchers Public Relations 210.308.1268 enborchers@usfunds.com For Immediate Release U.S. Global Investors Reports Net Income of $0.16 Per Share For Second Quarter, a 220% Year-Over-Year Increase Revenues grow 89% year-over-year ************************************************************************ SAN ANTONIO - February 14, 2006 - U.S. Global Investors, Inc. (NASDAQ: GROW), a boutique registered investment advisory firm, announced net income for the quarter ended December 31, 2005, of $1,168,000, or $0.16 income per share, unaudited, compared to net income of $407,000, or $0.05 income per share, unaudited, for the comparable period last year. Revenues for the quarter ended December 31, 2005, increased $3.65 million to $7.76 million, 89 percent higher than revenues of $4.11 million in the comparable period last year. "Our team approach and dynamic quant models along with stronger growth metrics in emerging markets and resource-based companies have continued to generate excellent performance in the majority of the equity funds under our management," says Frank Holmes, Chief Executive Officer of U.S. Global Investors. "These asset classes have out-performed the S&P 500 for the past five years, and our funds' strong performance has attracted record new money flows to several of our funds," he adds. Investment advisory fees, which accounted for most of the increase in revenues, grew by $2.94 million, primarily the result of a 69 percent increase in average assets under management from $1.67 billion for the quarter ended December 31, 2004, to $2.83 billion for the quarter ended December 31, 2005. Total assets under management have grown approximately 70 percent year-over-year from $1.81 billion as of December 31, 2004, to $3.05 billion as of December 31, 2005. Expenses for the quarter ended December 31, 2005, were approximately $2.55 million higher than the quarter ended December 31, 2004. Consistent with increased fund assets and strong fund performance, certain subadvisory fees, platform distribution costs, and performance-driven compensation costs contributed to the increases in expenses. "We continue to focus on improving our profit margin," continues Holmes. "The dramatic rise in third-party platform fees and compliance costs, two external and unexpected factors, has in recent years had significant impact on the Company's profit margins." Financial Highlights (Unaudited) U.S. Global Investors, Inc. Quarter Ended Quarter Ended December 31, 2005 December 31, 2004 ----------------- ----------------- Total Revenues $ 7,760,832 $ 4,105,898 Total Expenses $ 6,047,942 $ 3,495,481 Tax Expense $ 545,300 $ 203,230 Net Income $ 1,167,590 $ 407,187 Basic Net Income Per Share $ 0.16 $0.05 Diluted Net Income Per Share $ 0.15 $0.05 Basic Weighted Average Shares Outstanding 7,494,317 7,480,792 Diluted Weighted Average Shares Outstanding 7,612,235 7,546,380 Mutual Fund Average Assets Under Management ($ in billions) $ 2.83 $ 1.67 ABOUT U.S. GLOBAL INVESTORS, INC. U.S. Global Investors, Inc. is a registered investment adviser with a focus on profitable niche markets around the world. Headquartered in San Antonio, Texas, the Company offers financial solutions and provides transfer agency and other services to U.S. Global Investors Funds and U.S. Global Accolade Funds. The groups consist of 13 no-load mutual funds that invest in a variety of investment options, from emerging markets to money markets. Please consider carefully the fund's investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by visiting www.usfunds.com or by calling 1-800-US-FUNDS (1-800-873-8637). Read it carefully before investing. Distributed by U.S. Global Brokerage, Inc. This news release may include certain "forward-looking statements" including statements relating to revenues, expenses, and expectations regarding market conditions. These statements involve certain risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements. The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies. ##### -----END PRIVACY-ENHANCED MESSAGE-----