U.S. Global Investors Reports 88 Percent Increase In Earnings Per Share For 2Q2011
U.S. Global Investors, Inc. ( NASDAQ: GROW), a boutique registered investment advisory firm specializing in natural resources and emerging markets, today reported that revenue increased 34 percent and earnings per share increased 88 percent on a quarter-over-quarter basis for the quarter ended December 31, 2010. Year-over-year revenue increased 32 percent and earnings per share increased 50 percent for the quarter.
In the second quarter of fiscal 2011, U.S. Global recorded net income of $2.3 million, or 15 cents per diluted share, on revenue of $11.9 million.
This compares to net income of $1.3 million, or 8 cents per diluted share, on revenue of $8.9 million in the first quarter of fiscal year 2011. The company earned $1.5 million, or 10 cents per diluted share, on revenue of $9.0 million for the same quarter a year earlier.
Assets under management for SEC-registered funds and other clients stood at $3.04 billion as of December 31, 2010. Total assets under management during the latest quarter averaged $2.85 billion. Average assets under management have increased 50 percent from the lows experienced during the third quarter of fiscal year 2009.Each of the company’s new institutional class of funds experienced positive quarter-over-quarter fund flows during the quarter. These funds were launched in March of 2010. “The midterm elections removed some uncertainty and negative sentiment from the marketplace and based on money flows, it appears that investors are beginning to return to equity markets,” says Frank Holmes. According to data from the Investment Company Institute, the velocity of industry fund flows increased to over $5 billion in December, and equity funds have seen that figure roughly double to more than $10 billion so far in 2011. "Globally, the resource sector has undergone significant consolidation activity over the past 18 months, particularly in the key producing regions of Australia and North America and our funds have benefited,” says Holmes.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV