-----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, EZONwWfGsRagbFiB7//BrI3HNeSq9oZRwKIHt4dcPbJtgNkxFEQlTfjvacg7ovfU 1sVLF8iP8lrSu0gGJYuxRQ== 0000754811-06-000041.txt : 20060515 0000754811-06-000041.hdr.sgml : 20060515 20060515123409 ACCESSION NUMBER: 0000754811-06-000041 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060331 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20060515 DATE AS OF CHANGE: 20060515 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: 06838527 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-0506.txt FORM 8-K - EARNINGS FOR PERIOD ENDING 03/31/2006 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): May 15, 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 May 15, 2006, U.S. Global Investors, Inc. issued a press release reporting earnings and other financial results for its third 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: May 15, 2006 EX-99 2 exh99.txt PRESS RELEASE Contact: Terry Badger Director of Communications 210.254.6925 tbadger@usfunds.com For Immediate Release U.S. Global Investors acheives record earnings in 3Q Net income up more than 400 percent from same quarter in 2005 ******************************************************************************** SAN ANTONIO - May 15, 2006 - U.S. Global Investors, Inc. (NASDAQ: GROW), a boutique registered investment advisory firm, today reported record earnings in the quarter ended March 31, 2006, that were more than 400 percent higher than in the same period in 2005. The company recorded net income of $2.55 million, or 34 cents per share, on a quarterly revenue record of $11.6 million during the three months. That compares to earnings of $449,000, or 6 cents per share, on revenue of $4.9 million during the same quarter a year earlier. For the nine months ended March 31, 2006, U.S. Global has posted net income of $4.81 million, or 64 cents per share, on revenue of $25.9 million. The company earned $1.1 million, or 15 cents per share, on revenue of $12 million during the nine-month period ended March 31, 2005. "The wind of commodity prices hit our sails in the latest quarter, but we also helped our performance by focusing on our rigorous investment processes," says Frank Holmes, CEO and chief investment officer at U.S. Global Investors. "We've taken a more defensive stance because it's getting harder to find stocks that fit our strict models," Holmes continues. "We still believe in the secular bull market for commodities, but as active money managers, we're cautious in the short term. Pension funds have been investing heavily in commodity-based indexes, and in the short term we're not sure how sustainable this demand driver for commodities will be." U.S. Global's mutual fund assets under management stood at $4.37 billion at the end of the third quarter, nearly double the $2.23 billion under management on March 31, 2005. Including all advisory contracts, the company now manages more than $5.8 billion in assets. -more- Selected financial data (unaudited) for the three months ended March 31 2006 2005 Revenue $11,557,008 $4,885,699 Expenses $7,458,705 $4,155,139 Tax expense $1,547,895 $281,649 Net Income $2,550,408 $448,911 EPS (basic and diluted) $0.34 $0.06 Avg. Mutual Fund Assets under Mgmt $3.78 billion $2.01 billion Selected financial data (unaudited) for the nine months ended March 31 2006 2005 Revenue $25,892,362 $11,952,326 Expenses $18,365,696 $10,280,278 Tax expense $2,712,730 $575,488 Net Income $4,813,936 $1,096,560 EPS (basic and diluted) $ 0.64 $0.15 Avg. Mutual Fund Assets under Mgmt $2.99 billion $1.68 billion As of March 31, 2006, the U.S. Global Investors fund family had several funds leading their peer groups and the overall mutual-fund sector in measures going back as far as five years, according to the rating company Lipper Inc. In the first three months of 2006, U.S. Global's World Precious Minerals Fund (UNWPX) was ranked #2 by Lipper in total return among all domestic funds and the Gold Shares Fund (USERX) was #3. In Lipper's measure for the 12 months ended March 31, 2006, the Gold Shares Fund ranked #3 in total return among all domestic funds and World Precious Minerals was #6. For the five years ended March 31, 2006, the World Precious Minerals Fund ranked #1 in total return among all domestic funds. U.S. Global's Eastern European Fund (EUROX) was #3, the Gold Shares Fund was #4 and the Global Resources Fund (PSPFX) was #16. No other fund family had more than two funds in Lipper's top 40. As of March 31, 2006, according to Lipper, the World Precious Minerals Fund ranked #3 of 54, #1 of 46, #1 of 35, and #15 of 24 among gold-oriented funds for total return for the 1-, 3-, 5-, and 10-year periods. The Gold Shares Fund ranked #1 of 54, #3 of 46, #2 of 35 and #23 of 24 among gold-oriented funds for the 1-, 3-, 5- and 10-year periods. The Eastern European Fund ranked #7 of 196, #1 of 173 and #2 of 137 among emerging-market funds for the 1-, 3- and 5-year periods. The Global Resources Fund ranked #26 of 101, #1 of 74, #1 of 67 and #13 of 29 among natural resources funds for the 1-, 3-, 5- and 10-year periods. About U.S. Global Investors, Inc. U.S. Global Investors, Inc. (www.us-global.com) is a registered investment adviser that focuses 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. With more than $5.6 billion under management, the groups consist of 13 no-load mutual funds that offer a variety of investment options, from emerging markets to money markets. In general, trends in assets are the critical drivers of revenue and earnings trends. 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. Performance data quoted above is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance does not include the effect of any fees described in the fund's prospectus (e.g. short-term trading fees) which, if applicable, would lower your total returns. Obtain performance data current to the most recent month-end at www.usfunds.com or 1-800-US-FUNDS, option 5. Foreign and emerging-market investing involves special risks, such as currency fluctuation and less public disclosure, as well as economic and political risk. Gold funds may be susceptible to adverse economic, political or regulatory developments due to concentrating in a single theme. The price of gold is subject to substantial price fluctuations over short periods of time and may be affected by unpredicted international monetary and political policies. We suggest investing no more than 3% to 5% of your portfolio in gold or gold stocks. Lipper Disclaimer: Lipper ratings for Total Return reflect funds' historical total return performance relative to peers as of March 31, 2006. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee, or representation made by Lipper. Any use of the data for analyzing, managing, or trading financial instruments is at the user's own risk. This is not an offer to buy or sell securities. # # # # # -----END PRIVACY-ENHANCED MESSAGE-----