Exhibit 99.1

 

Contact:

Susan Filyk

Investor Relations

210.308.1286

sfilyk@usfunds.com

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For Immediate Release

U.S. Global Investors, Inc. Reports Results for Fiscal Year 2015

Company Continues to be Challenged by a Strong Dollar,

Weak Emerging Markets and Slumping Commodity Prices

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SAN ANTONIO–September 16, 2015–

U.S. Global Investors, Inc. (NASDAQ: GROW), a boutique registered investment advisory firm with longstanding experience in global markets and specialized sectors, today reported a net loss of $4.0 million, or $(0.26) per share, on operating revenues of $9.4 million for the fiscal year ended June 30, 2015. For the fiscal year 2014, U.S. Global Investors recorded a net loss of $970,000, or $(0.06) per share, on operating revenues of $11.4 million. In the fourth quarter of fiscal year 2015, the company had a net loss of $2.1 million, or $(0.13) per share, on operating revenues of $1.9 million.

The fiscal 2015 results include the impact of a non-cash tax expense of $1.9 million, or $(0.12) per share, of which $1.2 million, or $(0.08) per share, was included in the fourth quarter of fiscal year 2015.

On June 30, 2015, total assets under management as of period end were $792 million compared to $1.23 billion on June 30, 2014, a decrease of 36 percent. The decrease in total assets under management was primarily due to market depreciation in resource related assets and redemptions in mutual funds. On a positive note, the decrease in assets was partially offset by the launch of the company’s first exchange traded fund (ETF), the U.S Global Jets ETF. During fiscal 2015, U.S. Global Investors’ average assets under management were $931 million, compared to $1.08 billion in fiscal 2014.

Transforming Through a Year Challenged by a Strong Dollar and Slowing Global Growth

The challenges of a prolonged decline in emerging markets, gold and natural resources have dramatically impacted GROW’s revenues for the past four years. “The company will weather this storm by continuing a lean and reflexive cost structure and streamlining operations, while building for the future with innovative and competitive products,” says Frank Holmes, CEO of U.S. Global Investors, Inc. “We study global purchasing managers index (PMI) numbers as leading indicators of the future health of the global economy. Until PMIs are positive and constructive, odds favor commodity prices will remain flat or get worse. The cascading effect of the strong dollar and slow global growth is a headwind for natural resource and emerging markets investments as well as many American multinational companies.”


The following information was filed by U S Global Investors Inc (GROW) on Thursday, September 17, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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