U.S. Global Investors
were climbing Thursday after the investment advisory firm reported a year-over-year doubling of earnings in the first three months of fiscal year 2007.
The San Antonio-based company, which specializes in natural resources and emerging markets, recorded net income of $2.5 million, or 32 cents a share, on revenue of $11.9 million in the quarter ended Sept. 30. That compares to earnings of $1.1 million, or 14 cents a share, on revenue of $6.6 million during the same quarter a year ago.
U.S. Global chalked up the revenue and earnings growth in the first fiscal quarter of 2007 to increases in advisory fee revenue associated with the near doubling in assets under management. Its fund assets under management averaged more than $4.8 billion for the first fiscal quarter, compared to the $2.4 billion it averaged for the three months ended Sept. 30, 2005.
Shares were up $5.04, or 15.9%, at $36.38 in recent trading Thursday.