Exhibit 99.1

     
Contact:
Terry Badger
Director of Communications
210.308.1221
tbadger@usfunds.com
  (U.S. GLOBAL INVESTORS LOGO)
For Immediate Release
U.S. Global Investors reports robust profit increase
Higher revenue, AUM year over year drives 400% EPS gain in latest quarter
******************************************************************************
SAN ANTONIO—May 6, 2010—
U.S. Global Investors, Inc. (NASDAQ: GROW), a boutique registered investment advisory firm specializing in natural resources and emerging markets, today reported a 400 percent year-over-year increase in per-share earnings in the quarter ended March 31, 2010.
The company has scheduled a webcast for 10 a.m. Central time on Friday, May 7, 2010, to discuss the company’s key financial results for the quarter. Frank Holmes, Chief Executive Officer and Chief Investment Officer, will be accompanied on the webcast by Susan McGee, President and General Counsel, and Catherine Rademacher, Chief Financial Officer.
In the third quarter of fiscal 2010, U.S. Global recorded net income of $1.5 million, or 10 cents per diluted share, on revenue of $9.4 million. Net income was up from $0.3 million, or 2 cents per diluted share, earned on revenue of $5.0 million in the same quarter of fiscal year 2009. The quarter also marks the fifth straight in which revenue and per-share earnings has either increased from or equaled the sequential quarter.
“Earnings per share were up 400 percent and mutual fund management fees more than doubled compared to the same period in 2009,” says Mr. Holmes. “The first calendar quarter of 2009 saw the market drop and eventually bottom out, so conditions in the latest quarter were certainly far better for both our funds and for GROW. Our performance is consistent with the recovery trend that we are seeing in the global economy.
“But while revenue is up, we haven’t lost the focus on costs because they are a key part of the return-on-capital model. Our goal is to achieve above-industry-average returns on capital for our shareholders,” Mr. Holmes says. “Overall revenue was up nearly 90 percent year over year, but expenses rose at a much slower rate, and for the three quarters of the fiscal year, expenses are notably lower this fiscal year than last year. The lessons that we learned during the crisis reaffirmed for us the importance of running a flexible and lean operation that leverages our intellectual capital, not our balance sheet.”

 

 


The following information was filed by U S Global Investors Inc (GROW) on Monday, May 10, 2010 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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