Exhibit 99.1
 
Contact:
Holly Schoenfeldt
Marketing & Public Relations Manager
210.308.1268
hschoenfeldt@usfunds.com
 

For Immediate Release

U.S. Global Investors Reports Significantly Improved Net Income for Second Quarter 2018
************************************************************************
SAN ANTONIO–February 14, 2018–
U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a boutique registered investment advisory firm with longstanding experience in global markets and specialized sectors, today reported earnings of $749,000, or $0.05 per share, for the quarter ended December 31, 2017. This was a significant improvement over the same quarter the previous year, which had net income of $8,000, or $0.00 per share.
As was the case in the first quarter, the improvement in income was mainly due to an investment accounted for under the equity method in a fund managed by Galileo Global Equity Advisors Inc. (Galileo). The Company and the Galileo fund made strategic investments in HIVE Blockchain Technologies, the first publicly-traded firm involved in the business of mining new digital currencies, also known as cryptocurrencies.
In addition, the Company saw higher assets under management (AUM) in its two exchange-traded funds (ETFs). At the end of the quarter, the U.S. Global Jets ETF (JETS) and U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU), which launched in June 2017, collectively held $115.2 million. This is up substantially from $65.7 million at the end of the same three-month period in 2016.
Average assets under management, including U.S. Global Investors Funds, the U.S. Global ETFs, Galileo clients and offshore clients, were $758.5 million for the quarter ended December 31, 2017, compared to an average of $850.7 million for the same quarter a year ago, a decrease of 11 percent. Total assets under management were $746.0 million as of December 31, 2017, versus $811.5 million at December 31, 2016, a decrease of 8 percent.
Frank Holmes, CEO and chief investment officer of U.S. Global Investors, comments, “It’s important for investors to remember that, since 2000, the price of gold has outperformed the S&P 500 nearly two-to-one, and last year it returned slightly more than 13 percent. Despite this, the financial media continues to have a tendency to downplay gold as an asset class.
“A new gold rally kicked off after the Federal Reserve hiked rates in mid-December, and the yellow metal started the new year above $1,300 an ounce, the first time it’s done so since 2013. With inflation expected to heat up in 2018 on trade concerns and rising wages, and with geopolitical risks high, I believe many investors could be more inclined to return to the gold space as a safe haven. I’m pleased that our U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU) more than doubled its average assets from the previous quarter, a clear sign there’s appetite for a smarter, rules-based alternative to gold investing.

The following information was filed by U S Global Investors Inc (GROW) on Thursday, February 15, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate U S Global Investors Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by U S Global Investors Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

FREE Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account